Question 12 A Corporation sells hats to upscale retailers across the world. Information...

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Accounting

Question 12
A Corporation sells hats to upscale retailers across the world. Information about inventory is contained in the table below. The company uses a perpetual inventory system. Inventory is sold $50.00 per
unit.
Determine the Gross Margin for the period assuming that the company uses the FIFO cost flow method and that the only sale was 1,000 units on January 15.
$38,500
$26,300
$10,900
$39.100
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