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A business uses the specific identification method of costing inventory. During a month, they purchased...

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Question

Accounting

A business uses the specific identification method of costing inventory. During a month, they purchased three cars for $ 5,500, $ 6,000, and $ 7,000, respectively. During the month, the first two cars are sold for $ 8,000 each. What is the gross profit for that month for the business?

Select one:

a.

$ 4,500

b.

$ 5,000

c.

$ 3,300

d.

$ 2,000

e.

$ 4,000

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