Daniel Company uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows: January 1: Beginning Balance of 18 units at $13 each January 12: Purchased 15 units at $14 each January 19: Sold 24 units at a selling price of $28 each January 20: Purchased 24 units at $17 each January 27: Sold 27 units at a selling price of $32 each If the company uses the FIFO inventory method, what would be the Gross Profit for the month of January?
A) $786.
B) $750.
C) $774.
D) $762.
E) $756
Ans: A) $786.
Business
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Which of the following is not a disadvantage of an HMO plan versus a PPO plan?
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