Multiple Choice
A company just starting in business purchased three merchandise inventory items at the following prices.First purchase $80; Second purchase $95; Third purchase $85.If the company sold two units for a total of $270 and used FIFO costing, the gross profit for the period would be
A) $95.
B) $105.
C) $90.
D) $80.
Correct Answer:
Verified
Correct Answer:
Verified
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