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Wooster Company imports and sells a product produced in Canada. In the summer of 2021, a natural disaster disrupted production affecting its supply of product

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Wooster Company imports and sells a product produced in Canada. In the summer of 2021, a natural disaster disrupted production affecting its supply of product On January 1 2021. Wooster's inventory records were as follows Year purchased 2019 2020 Total Quantity (units) 5.000 10.000 15.000 Cost per unit $150 $200 Total cost $750,000 2.000.000 $2.750.000 Through mid-December of 2021 purchases were limited to 14.000 units, because the cost had increased to $300 per unit. Wooster sold 18.000 units during 2021 at a price of $400 per unit, which significantly depleted its inventory Assume that Wooster purchases 20,000 more of the $300 units on December 31, 2021 Wooster uses the FIFO Inventory method Compute Wooster's gross profit for 2021 0 $3,550,000 $1.800.000 $2.200,000 $3.600.000

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