Beginning inventory at these costs on July 1 was 3,300 units. From July 1 to...
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Accounting
Beginning inventory at these costs on July 1 was 3,300 units. From July 1 to December 1, 20X1, Bradley Corporation produced 12,600 units. These units had a material cost of $5, labor of $6, and overhead of $4 per unit. Bradley uses LIFO inventory accounting.
a. Assuming that Bradley Corporation sold 14,200 units during the last six months of the year at $20 each, what is its gross profit?
b. What is the value of ending inventory?
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