Three Identical Units of Merchandise Were Purchased During March, as Shown

question 71

Multiple Choice

Three identical units of merchandise were purchased during March, as shown: Assume that one unit is sold on March 23 for $1,125. What is the gross profit for March using FIFO?

• A)$245
• B)$295
• C)$1,670
• D)$1,720

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Definitions:

Allele

A variant form of a gene that arises due to mutation and can be found at a specific place on a chromosome.

Gene

A basic unit of heredity in a living organism that is made up of DNA and positioned on a chromosome; genes contain the information needed to build and maintain an organism's cells and pass traits to offspring.

Doulas

Professionals trained to provide support and guidance to women before, during, and after childbirth.

Doula

A woman who helps with the birth process. Traditionally in Latin America, a doula was the only professional who attended childbirth. Now doulas are likely to arrive at the woman’s home during early labor and later work alongside a hospital’s staff.