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Business, 15.04.2020 20:04 brandon1888

Blossom Company had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 127 $53 Mar. 14, 2022 Purchase 219 $55 May 1, 2022 Purchase 156 $58 The company sold 361 units at $74 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using FIFO?

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