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Oriole Company had the following inventory transactions occur during 2022:
Units Cost/unit
Feb. 1, 2022
Purchase
121$50Mar. 14, 2022
208$53May 1, 2022
148$55
The company sold 343 units at $71 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO?
$6509
$17844
$18475
$5878
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