Business, 21.11.2019 00:31 gucc4836

Cement company, inc. began the first quarter with 1,000 units of inventory costing $25 per unit. during the first quarter, 3,000 units were purchased at a cost of $40 per unit, and sales of 3,400 units at $65 per units were made. during the second quarter, the company expects to replace the units of beginning inventory sold at a cost of $45 per unit. cement company uses the lifo method to account for inventory. provide detailed calculation.

the amount of gross profit for the first quarter is:

a.

$83,000

b.

$87,000

c.

$90,000

d.

$221,000

e.

$250,000

Answers: 3

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Cement company, inc. began the first quarter with 1,000 units of inventory costing $25 per unit. dur...