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Crane Company uses a periodic inventory system. Details for the inventory account for the month...

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Accounting

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Crane Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 210 $5 $ 1050 Purchase, 1/15/18 120 5.20 624 Purchase, 1/28/18 120 5.40 648 An end of the month (1/31/18) inventory showed that 175 units were on hand. If the company uses FIFO and sells the units for $ 10 each, what is the gross profit for the month? O $ 1362 O $ 1750 O $ 1706 O $ 1296

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