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What is the company gross profit using fifo

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Question - Dole Industries had the following inventory transactions occur during 2017:

Units Cost/unit

Feb. 1, 2017 Purchase 81.0 $81.0

Mar. 14, 2017 Purchase 140.0 $85.0

May 1, 2017 Purchase 99.0 $88.0

The company sold 230.0 units at $113.0 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?

Reference no: EM132966259

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