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What is the gross profit for the month

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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

$5.00

$700

Purchas, 1/28/2022

140

$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?

Reference no: EM133049538

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