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Assume company A has a beginning balance of one. Using the perpetual inventory method. ...

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Accounting

Assume company A has a beginning balance of one. Using the perpetual inventory method.

1. Purchased March 1st- 300 units, 10$ cost per unit

2. Purchased on March 19th- 200 units, 8$ cost per unit

3. Purchased on March 27th- 200 units, 11$ cost per unit

On March 31st, Company A sold 400 units at a 15$ selling price per unit.

Assume the LIFO cost flow. Compute the Gross profit for March.

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