Question: Current Attempt in Progress Crane Corporation acquired two inventory items at a lump-sum cost of $131000. The acquisition included 3330 units of product LF, and

Current Attempt in Progress Crane Corporation acquired two inventory items at a lump-sum cost of $131000. The acquisition included 3330 units of product LF, and 6660 units of product 1B. LF normally sells for $30 per unit, and 1B for $10 per unit. If Crane sells 1110 units of LF, what amount of gross profit should it recognize? O $2367. O $37740. O $33300. O $7100. On January 1, 2020, the merchandise inventory of Sunland, Inc. was $1300000. During 2020 Sunland purchased $2606000 of merchandise and recorded sales of $3400000. The gross profit rate on these sales was 25%. What is the merchandise inventory of Sunland at December 31, 2020? O $850000. O $794000. O $1356000. O $2550000

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