The Units of Product YY2 Available for Sale During the Year

question 62

Essay

The units of Product YY2 available for sale during the year were as follows:
$\begin{array}{lllll}\$ 30 \text { each } & \text { at } & 16 \text { units } & \text { Inventory } & \text { Apr 1 } \\\$ 33 \text { each } & \text { at } & 30 \text { units } & \text { Purchase } & \text { Jun 16 } \\\$ 37 \text { each } & \text { at } & 45 \text { units } & \text { Purchase } & \text { Sep 28 }\end{array}$ There are 15 units of the product in the physical inventory at March 31. The periodic inventory system is used. Determine the difference in gross profit between the LIFO and FIFO inventory cost systems.

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Definitions:

Sociobiologists

Scientists who study the biological basis of social behavior in animals and humans, exploring how evolution has shaped behaviors in the context of survival and reproduction.

Evolutionary Images

Visual representations or concepts that have evolved over time to convey or symbolize particular biological or cultural ideas.

Sexually Promiscuous

Engaging in sexual activities with multiple partners without engaging in a committed relationship.

Sociobiologist

A scientist who studies the biological aspects of social behavior, often focusing on the evolutionary basis for such behaviors.