A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $65; second purchase $78; third purchase $68. If the company sold two units for a total of $200 and used periodic inventory system with FIFO costing, the gross profit for the period would be

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The Answer of A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $65; second purchase $78; third purchase $68. If the company sold two units for a total of $200 and used periodic inventory system with FIFO costing, the gross profit for the period would be

A Company Just Starting in Business Purchased Three Merchandise Inventory