In: Accounting
During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows :
Units |
Cost per unit |
||
Begin Inventory |
100 |
12 |
|
Jan 5 |
Sale |
50 |
|
10 |
Purchase |
70 |
16 |
15 |
Sale |
25 |
|
25 |
Sale |
35 |
Required:
C. Compute gross profit under for a and b.
The selling price for number 3 items is $50 per unit.