Inventory data for Missoula Merchandising, Inc. are provided below. Sales for the period were 2,800 units. Each sold for $8. The company maintains a weighted-average periodic inventory system
Date Number of Units Unit Cost Total Cost
January 1 Beginning inventory 1,000 $2.20 $2,200
January Purchases 600 $3.50 $2,100
February Purchases 800 $4.00 $3,200
March Purchases 1,200 $4.25 $5,100
Totals 3,600 $12,600
Determine the gross profit for the quarter ended March 31.
A) $12,635
B) $12,600
C) $13,000
D) $22,400
B
Business
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