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

question 66

Essay

Three identical units of merchandise were purchased during March,as shown:
$\begin{array}{|l|l|c|c|}\hline & {\text { SteelePlate }} & \text { Units } & \text { Cost } \\\hline \text { Mar. } 3 & \text { Purchase } & 1 & \$ 830 \\\hline 10 & \text { Purchase } & 1 & 840 \\\hline 19 & \text { Purchase } & \underline{1} & \underline{880} \\\hline \text { Total } & & \underline{3} & \underline{\$ 2.550} \\\hline\end{array}$
Assume that one unit is sold on March 23 for $1,125.Determine the gross profit for March and ending inventory on March 31 using a FIFO and b LIFO.

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Definitions:

Morale

Refers to the emotional or mental condition with respect to confidence, enthusiasm, and loyalty of a person or group, especially in the context of work or team environments.

Poorly-Motivated

Describes individuals or groups that lack the drive, enthusiasm, or interest to perform tasks or pursue goals.

Path-Goal Theory

A leadership theory that suggests leaders adjust their styles depending on the situation and characteristics of followers to guide them in achieving their goals.

Subordinate Characteristics

The attributes or traits of individuals that report to a supervisor or manager in a workplace hierarchy.