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What is the gross profit using the FIFO method

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Reference no: EM132146210

Question - The following data was extracted from the records of Winsam Company

Sales Revenue 450 units @ $35 per unit

Beginning Inventory 100 units @ $16 per unit

Purchases 400 units at $20 per unit

What is the gross profit using the FIFO method?

1. $6,950

2. $7,150

3. $8,600

4. $8,800

Reference no: EM132146210

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