Bonita Company's inventory records show the following data: A physical inventory on December 31 shows...
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Accounting
Bonita Company's inventory records show the following data: A physical inventory on December 31 shows 3500 units on hand. Bonita sells the units for $13 each. The company has an effective tax rate of 22%. Bonita uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period? $90000 $88000 $93500 $98500
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