Sam’s
Used Cars uses the specific identification method of costing inventory.
During March, Sam purchased three cars for $6,000, $7,500, and $9,750,
respectively. During March, two cars are sold for $9,000 each. Sam
determines that at March 31, the $9,750 car is still on hand. What is
Sam’s gross profit for March?
A. $8,250 B. $5,250 C. $750 D. $4,500
A. $8,250 B. $5,250 C. $750 D. $4,500
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