View Policies Current Attempt in Progress A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $62; Second purchase $70; Third purchase $61. If the company sold two units for a total of $220 and used FIFO costing, the gross profit for the period would be O $61. O $86. O $93. O $88. Save for Later Attempts: 0 of 1 used Submit