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George's Music Shop has the following information relating to its inventory: ...

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Accounting

George's Music Shop has the following information relating to its inventory:

# of units cost per unit
June 1 Beginning Inventory 10

$6
June 4 Purchase 50

$8
June 26 Purchase 20

$9

During June 55 units were sold for $12 each.

Determine the gross profit, assuming George's uses weighted average inventory costing.

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