50.1K
Verified Solution
Link Copied!
Assume company A has a beginning balance of one. Using the perpetual inventory method.
1. Purchased March 1st- 300 units, 10$ cost per unit
2. Purchased on March 19th- 200 units, 8$ cost per unit
3. Purchased on March 27th- 200 units, 11$ cost per unit
On March 31st, Company A sold 400 units at a 15$ selling price per unit.
Assume the LIFO cost flow. Compute the Gross profit for March.
Answer & Explanation
Solved by verified expert
