Acct212 Financial Accounting: Inventory valuation methods allow management (LIFO)

Acct212 Financial Accounting

Inventory valuation methods allow management to select a method that best fits their business model given the following data, what is the value of the gross profit as determined by last in first out method

Sales Revenue----- 300 units at $15 per unit
Purchases---- 240 units at $10 per unit
Beginning inventory---- 120 units at $8 per unit
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