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What is the gross profit for the period

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Question - Sheffield Company's inventory records show the following data:

Units Unit Cost Inventory: January 19900 $8.80 Purchases: June 189000 7.00 November 858006.00

A physical inventory on December 31 shows 4000 units on hand. Sheffield sells the units for $15 each. The company has an effective rate of 18%. Sheffield uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?

Reference no: EM132218545

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