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Vaughn Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Per unit Units price
Vaughn Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Per unit Units price Total $800 200 $4 110 6.00 660 Balance, 1/1/18 Purchase, 1/15/18 Purchase, 1/28/18 110 7.00 770 An end of the month (1/31/18) inventory showed that 165 units were on hand. If the company uses FIFO and sells the units for $12 each, what is the gross profit for the month? O $1980 $2274 $1038 O $1930
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