A company just starting in business purchased a total of three merchandise inventory items at...
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A company just starting in business purchased a total of three merchandise inventory items at the following prices. March 2, 1@ $75; March 7, 1 @$80; and March 15, 1@$90. If the company sold two units for $125 each on March 10 and March 20, and used the FIFO cost formula in a perpetual inventory system, the gross profit for March would be
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