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Question - A company uses the FIFO cost flow assumption. The beginning inventory balance was zero. Below is showing inventory transactions for December 2000.
Dec. 2: Purchase 125 units at $75
Dec. 15 Purchase 200 units at $74
Dec. 16 Purchase units 375 at $70
Dec. 29 Sale of 650 at $130
What is the company's gross profit for December 2020?
A) $37,381
B) $37,677
C) $37,825
D) $37,500
E) $37,575
Morie Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.70 direct labor-hours. The direct labor rate is $10.60 per direct labor-hour. The production budget calls for producing 7,600 units in Mar..
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