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Ted's Used Cars uses the specific identi...
This question was answered on Jun 28, 2011. View the Answer
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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Dear Student Please find attached solution of your assignment. Regards View the full answer

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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