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What is the gross profit for the period

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

Units Unit Cost

Inventory, January 1   10,000 $9.20

Purchases: June 18 9,000 $8.00

Purchases: November 8 6,000 $7.00

A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?

Reference no: EM132530645

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