Colicchio corporation acquired two inventory items at a, Financial Accounting

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Colicchio corporation acquired two inventory items at a

Colicchio Corporation acquired two inventory items at a lump-sum cost of $60,000. The acquisition included 3,000 units of knife X001, and 3,000 units of knife X002. X001 normally sells for $20 per unit, and X002 for $10 per unit. If Colicchio sells 1,000 units of X002, what amount of gross profit should it recognize?

a. $1,000.
b. $6,670.
c. $10,000.
d. $3,330.

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Financial Accounting: Colicchio corporation acquired two inventory items at a

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Financial Accounting: Colicchio corporation acquired two inventory items at a

Reference No:- TGS01257812

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