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Question - Ayayai Corp. Uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows:
Units
Per unit price
Total
Balance, 1/1/2022
280
$5.00
$1400
Purchase, 1/15/2022
140
$700
Purchas, 1/28/2022
$5.20
$728
An end-of-the-month (1/31/2022) inventory showed that 230 units were on hand. If the company uses FIFO and sells the units for $9 each, what is the gross profit for the month?
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