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The Bradley corporation produces a product with the following costs a of July 1, 20x1:
material : $1 per unit
labor 3 per unit
overhead 2 per unit
beginning inventory at these costs on July 1 was 3,300 units. From July 1 to December 1, 20X1, Bradley Corporation produces 12,600 units. These units had a material cost of $5, labor of $6, and overhead of $4, per unit. Bradley uses LIFO inventory accounting.
a. Assuming that Bradley Corporation sold 14,200 units during the last six months of the year at $20 each , what is the gross profit?
b. What is the value of ending inventory?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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