A business uses the specific identification method of costing inventory. During a month, they purchased...
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Accounting
A business uses the specific identification method of costing inventory. During a month, they purchased three cars for $ 5,500, $ 6,000, and $ 7,000, respectively. During the month, the first two cars are sold for $ 8,000 each. What is the gross profit for that month for the business?
Select one:
a.
$ 4,500
b.
$ 5,000
c.
$ 3,300
d.
$ 2,000
e.
$ 4,000
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