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Three Identical Units of Merchandise Were Purchased During March, as Shown

Question 114

Multiple Choice

Three identical units of merchandise were purchased during March, as shown: Three identical units of merchandise were purchased during March, as shown: Assume that one unit is sold on March 23 for $1,125. What is the gross profit for March using FIFO? A) $245 B) $295 C) $1,670 D) $1,720
Assume that one unit is sold on March 23 for $1,125. What is the gross profit for March using FIFO?


A) $245
B) $295
C) $1,670
D) $1,720

Correct Answer:

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