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Graham Company Uses a Periodic Inventory System

Question 49

Multiple Choice

Graham Company uses a periodic inventory system.Details for the inventory account for the month of January, 2011 are as follows: Graham Company uses a periodic inventory system.Details for the inventory account for the month of January, 2011 are as follows: 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? A) $2,064 B) $2,136 C) $4,200 D) $4,500 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?


A) $2,064
B) $2,136
C) $4,200
D) $4,500

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