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What is the gross profit for the month for sunland company

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Reference no: EM132711512

Sunland Company 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        290      $5.00                   $1450
Purchase, 1/15/2022    140          5.10                      714
Purchase, 1/28/2022    140            5.30                    742

Problem 1: 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 $10 each, what is the gross profit for the month?

A. $1695
B. $1705
C. $3400
D. $2300

Reference no: EM132711512

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