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Ted's Used Cars uses the specific identification method of costing inventory. During March, Ted purchased three cars for $6,000, $7,500, and $9,750,...

Ted's Used Cars uses the specific identification method of costing inventory. During March, Ted purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Ted determines that at March 31, the $9,750 car is still on hand. What is Ted’s gross profit for March?
a. $5,250.
b. $4,500.
c. $750.
d. $8,250.
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Accounting (2).xls

Question: Ted's Used Cars uses the specific identification method of costing
inventory. During March, Ted purchased three cars for $6,000,
$7,500, and $9,750, respectively. During March, two cars...

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