Question 16 (1 point) Question 27) A company just starting in business purchased three merchandise inventory items at the following prices. March 2, $150; March 7, $160; and March 15, $180. If the company sold two units for $250 each on March 10 and March 20, and used the FIFO cost formula in a perpetual inventory system, the gross profit for March would be a. $200. b. $190. O c. $160. Od. $170. O e. $180