What is the company gross profit using fifo

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Question - Sunland Company had the following inventory transactions occur during 2022:

 

 

Units

Cost/unit

Feb. 1, 2022

Purchase

86

$86

Mar. 14, 2022

Purchase

149

$90

May 1, 2022

Purchase

106

$94

The company sold 245 units at $121 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: EM133104777

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