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Assuming that a periodic inventory system is used what is

Question - Dole Industries had the following inventory transactions occur during 2010:

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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Accounting Basics: Assuming that a periodic inventory system is used what is

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