The Bradley Corporation produces a product with the following costs as of July 1, 20X1:...
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Accounting
The Bradley Corporation produces a product with the following costs as of July 1, 20X1: Material Labor Overhead $5 per unit 3 per unit 1 per unit Beginning inventory at these costs on July 1 was 3,450 units. From July 1 to December 1, 20X1, Bradley produced 12,900 units. These units had a material cost of $4, labor of $6, and overhead of $3 per unit. Bradley uses LIFO inventory accounting. a. Assuming that Bradley sold 14,800 units during the last six months of the year at $18 each, what is its gross profit? Gross profit b. What is the value of ending inventory? Ending inventory
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