Question

Oriole Company had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase...

Oriole Company had the following inventory transactions occur during 2022:

Units

Cost/unit

Feb. 1, 2022

Purchase

 101 $101

Mar. 14, 2022

Purchase

 174 $105

May 1, 2022

Purchase

 123 $110


The company sold 286 units at $141 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using FIFO?

$30645

$29681

$10645

$9681

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