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Coronado Company's inventory records show the following data: Units Unit Cost Inventory, January 1 9700$9.00 9700 $9.00 Purchases: June 18 95009.00...

Coronado Company's inventory records show the following data:


   Units Unit Cost

Inventory, January 1  9700$9.00 9700 $9.00

Purchases:    June 18  95009.00          9500    9,00

November 8  55008.00 5500 8.00


A physical inventory on December 31 shows 4400 units on hand. Coronado sells the units for $11 each. The company has an effective tax rate of 20%. Coronado uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?




a-$41700


b-$46660


c-$46100


d-$45966

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a. $41700 is the... View the full answer

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The correct option is A).... View the full answer

a. $41700 [gross... View the full answer

Gross Profit: Gross profit shows the profit earned from the operating activity of the... View the full answer

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