Dole Industries had the following inventory transactions occur d

Dole Industries had the following inventory transactions occur during 2010:
Units Cost/unit
Feb. 1, 2010 Purchase 54 $45
Mar. 14, 2010 Purchase 93 $47
May 1, 2010 Purchase 66 $49
The company sold 153 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using FIFO? (rounded to whole dollars)
A) $7,323
B) $7,095
C) $2,544
D) $2,316



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  • CreatedApril 13, 2012
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