Solved: On march 15th heels r us sells 300 units of the a model, Accounting Basics

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On march 15th heels r us sells 300 units of the a model

Question - Heels R Us Inc. is a women's shoe retailer. On February 1st, 2013; the company purchased 500 units of a popular new model A shoe for $20 each. On March 3rd, the company purchased 700 units of the newly released B model shoe for $30 each causing the selling price of the A model to drop from $70 to $60. On March 15th, Heels R Us sells 300 units of the A model. What is gross profit earned on the sale?

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Accounting Basics: On march 15th heels r us sells 300 units of the a model

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