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Find the LIFO liquidation overstated normal gross profit

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Reference no: EM132591244

Question - Oriole Company had 620 units of "Tank" in its inventory at a cost of $5 each. It purchased 890 more units of "Tank" at a cost of $8 each. Oriole then sold 1010 units at a selling price of $13 each. Find the LIFO liquidation overstated normal gross profit?

a. $360.00

b. $1,170.00

c. $810.00

d. $ -0-.

Reference no: EM132591244

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