Bonita Industries had 490 units of "Dink" in its inventory at a cost of $5...
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Accounting
Bonita Industries had 490 units of "Dink" in its inventory at a cost of $5 each. It purchased, for $2410, 310 more units of "Dink". Bonita then sold 580 units at a selling price of $11 each, resulting in a gross profit of $2620. The cost flow assumption used by Bonita O is FIFO. is LIFO. is weighted average. cannot be determined from the information given
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