A company just starting in business
purchased three merchandise inventory items at the following prices.
First purchase $80; Second purchase $95; Third purchase $85. If the
company sold two units for a total of $240 and used FIFO costing, the
gross profit for the period would be
A. $65.
B. $75.
C. $60.
D. $50.
A. $65.
B. $75.
C. $60.
D. $50.
