Question: please show steps Inventory purchase and sales data for Abed Company are as follows. Note: there was no inventory before the purchase made on January

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Inventory purchase and sales data for Abed Company are as follows. Note: there was no inventory before the purchase made on January 1. Purchased on January 1-200 units. 511 cost per unit Purchased on January 16 - 300 units, 58 cost per unit Purchased on January 25 - 800 units. 511 cost per unit Sold on January 31 - 500 units. 515 selling price per unit Abed uses LIFO Compute GROSS PROFIT for January

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