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What would the gross profit be

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Reference no: EM133077415

Question - Refer to the following table:

January 1 inventory balance

90 units at $10 per unit

March 2 purchase

50 units at $11 per unit

July 8 purchase

80 units at $10 per unit

November 15 purchase

30 units at $12 per unit

December 31 inventory balance

75 units

Assume that all goods are sold throughout the year for $19 per unit. What would the gross profit be if calculated under the periodic LIFO?

Reference no: EM133077415

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