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What the gross profit for the period would be

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Problem 1: A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $65; Second purchase $77; Third purchase $66. If the company sold two units for a total of $205 and used FIFO costing, the gross profit for the period would be

A) $63.

B) $68.

C) $74.

D) $62.

Reference no: EM132689836

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