Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marigold company uses a periodic inventory system.

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

90.2K

Verified Solution

Question

Accounting

Marigold Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:
An end of the month (1/31/20) inventory showed that 150 units were on hand. If the company uses FIFO and sells the units for $8
each, what is the gross profit for the month?
$505
$849
$1323
$1200
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

10 The uncertainty in momentum of an electron is 1 x 10 5 kg m...

Physics
1.2K views

An individual performs two drop landings from the exact same height above two different basketball floors....

Psychology
1.2K views

Sigmund Freud was the first to theorize about ego defense mechanisms. Many defense mechanisms are self-deceptive...

Biology
1.2K views

Which of the following is true of positive feedback?Positive feedback mechanisms are independent of negative...

Geometry
1.2K views

Find the measures of the numbered angles in the kite Note Input answer as 1...

Basic Math
1.2K views

Divide.300?3619Select the correct choice below and fill in any answer boxes in your choice.A. The...

Accounting
1.2K views

P7.12B (LO 4) AP In the November 30,2024, bank reconciliation at Kiran's Kayaks,...

Accounting
1.2K views

For Dorothy, one of the most exciting aspects of landing a full-time job was being...

Accounting
1.2K views

Required: Read the New York Times article regarding the fraudulent situation discovered at Toshiba....

Accounting
1.2K views

Indicate in which financial statement each item would most likely appear, by selecting income statement,...

Accounting
1.2K views

Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies....

Finance
1.2K views

Allison's Dresswear Manufacturers is preparing a strategy for the fall season. One alternative is to...