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Business, 17.04.2020 15:30 brookie125

A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $64; Second purchase $76; Third purchase $68. If the company sold two units for a total of $200 and used FIFO costing, the gross profit for the period would be:

a. $56.
b. $60.
c. $62.
d. $68.

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