Dole Industries Had the Following Inventory Transactions Occur During 2017

question 2

Multiple Choice

Dole Industries had the following inventory transactions occur during 2017: $\begin{array}{lllll}&&\text { Units } & \text { Cost/unit } \\\text { Feb. 1.2017 } & \text { Purchase } & 90 & \$ 90 \\\text { Mar. 14.2017 } & \text { Purchase } & 155 & \$ 94 \\\text { Mav 1.2017 } & \text { Purchase } & 110 & \$ 98\end{array}$ The company sold 255 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars)

• A)$24,410
• B)$23,650
• C)$8,480
• D)$7,720

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Definitions:

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An antipsychotic medication used to treat schizophrenia when other treatments have failed, known for its potential to cause agranulocytosis.

Clozapine

An atypical antipsychotic medication used primarily to treat resistant schizophrenia or reduce the risk of suicidal behavior in schizophrenia patients.

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is a serious mental disorder characterized by disturbances in thought, perception, emotion, and behavior, leading to a disconnection from reality.