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Find what is gross profit for the month for sunland company

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Reference no: EM132717367

Sunland Company uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows:

                                         Units        Per unit price        Total
Balance, 1/1/2022        290           $5.00           $1450
Purchase, 1/15/2022   140 .            .5.10                 714
Purchase, 1/28/2022    140 .         .5.30                    742

Problem 1: An end of the month (1/31/2022) inventory showed that 230 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. $1695
B. $1705
C. $3400
D. $2300

 

Reference no: EM132717367

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