Philipsburg Corporation sells hats to upscale retailers around the world.Information about inventory is contained in the table below.The company uses a LIFO perpetual inventory system. 
Determine the gross profit for the period assuming that the only sale was 1,200 units for $35 each on January 15.
A) $30,200
B) $32,400
C) $36,540
D) $42,000
Correct Answer:
Verified
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