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Determine gross profit for July using average cost method

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Reference no: EM132838730

Question - Three identical units of Item K113 are purchased during July, as shown below.

Item K113 Units Cost 188

July 9 Purchase 1 151

July 17 Purchase 1 176

July 26 Purchase 1

Assume that one unit is sold on July 31 for $258. Determine the gross profit for July using the average cost method. (Round to nearest full dollar).

Reference no: EM132838730

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