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How much gross profit using the fifo method

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Question - Messer Corporation sells recreational vehicles (RV). At the beginning of the year, they had one RV in inventory costing $40,000. They purchased another RV for $42,000. They sold one of the RVs for $57,500. How much gross profit using the first-in, first- out (FIFO) method?

Reference no: EM133112608

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