Business, 18.03.2021 01:40 lindalou6483

Graham Company uses a periodic inventory system. Details for the inventory account for the month of January, 2011 are as follows: Units Per unit Balance, 1/1/11 300 $5.00 Purchase, 1/15/11 150 5.30 Purchase, 1/28/11 150 5.50 An end of the month (1/31/11) inventory showed that 180 units were on hand. If the company uses FIFO and sells the units for $10 each, what is the gross profit for the month?

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Graham Company uses a periodic inventory system. Details for the inventory account for the month of...