Concord corporation uses a periodic inventory system. details for the inventory account for the month of january 2017 are as follows:
units per unit price total
balance, 1/1/2017 240 $4.00 $960
purchase, 1/15/2017 120 ..4.20 504
purchase, 1/28/2017 120 ..4.40 528
an end of the month (1/31/2017) inventory showed that 190 units were on hand. if the company uses fifo and sells the units for $8.00 each, what is the gross profit for the month?
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Concord corporation uses a periodic inventory system. details for the inventory account for the mont...
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