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Putting on the Ritz,Inc

Question 71

Multiple Choice

Putting on the Ritz,Inc.sells hats to upscale retailers around the world.Information about inventory is contained in the table below.The company uses a LIFO perpetual inventory system. Putting on the Ritz,Inc.sells hats to upscale retailers around the world.Information about inventory is contained in the table below.The company uses a LIFO perpetual inventory system. Determine the gross profit for the period assuming that the only sale was 1,200 units for $35 each on January 15. A) $30,200 B) $32,400 C) $36,540 D) $42,000 Determine the gross profit for the period assuming that the only sale was 1,200 units for $35 each on January 15.


A) $30,200
B) $32,400
C) $36,540
D) $42,000

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