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A company just starting in business purchased three inventory items at the following prices. First...

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Accounting

A company just starting in business purchased three inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $290 and used FIFO costing, the gross profit for the period would be O $100. O $125. O $115. O $110

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