Question: ADAPTIVE PRACTICE CH 6 - GRADED 6.2 Inventory Cost Determination Method Gibson Company began August with no inventory of Product BR. Relevant information is listed

ADAPTIVE PRACTICE CH 6 - GRADED 6.2 Inventory Cost Determination Method Gibson Company began August with no inventory of Product BR. Relevant information is listed as follows: Purchase August 6 200 units at $10 per unit Sale August 17 180 units at $24 per unit Purchase August 21 400 units at $12 per unit Sale August 30 340 units at $24 per unit If Gibson Company uses the average cost method inventory cost flow assumption, what amount will it report as gross profit for August? $6,780 $6,950 $7,142 $6,962 Save for Later

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