Concord's Used Cars uses the specific identification method of costing inventory. During March, Concord purchased three cars for $12700, $14600, and $19600, respectively. During March, two cars are sold for a total of $35300. Concord determines that at March 31, the $14600 car is still on hand. What is Concord’s gross profit for March?     $1100.   $8000.   $2200.   $3000.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Concord's Used Cars uses the specific identification method of costing inventory. During March, Concord purchased three cars for $12700, $14600, and $19600, respectively. During March, two cars are sold for a total of $35300. Concord determines that at March 31, the $14600 car is still on hand. What is Concord’s gross profit for March?


 

 

$1100.

 

$8000.

 

$2200.

 

$3000.
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