The profit the store makes on the rope can be found by subtracting the amount it charges for the rope from the price it pays for the rope. If the store sells 60 feet of rope, how much profit does it make on that rope?

2. using calculations based on a perpetual inventory system, determine the inventory balance altira would report in its august 31, 2021, balance sheet and the cost of goods sold it would report in its august 2021 income statement using the average cost method. (round "average cost per unit" to 2 decimal places.)