Harrison Company purchased two types of inventory in a lump- sum transaction for $60,000. The purchase included: ⚫ 4,000 units of Product A (normal selling price $15 per unit) . 8,000 units of Product B (normal selling price $5 per unit) If Harrison sells 2,000 units of Product A, what is the gross profit?
Harrison Company purchased two types of inventory in a lump- sum transaction for $60,000. The purchase included: ⚫ 4,000 units of Product A (normal selling price $15 per unit) . 8,000 units of Product B (normal selling price $5 per unit) If Harrison sells 2,000 units of Product A, what is the gross profit?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 3RE: Shaquille Corporation began the current year with inventory of 50,000. During the year, its...
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Transcribed Image Text:Harrison Company purchased two types of inventory in a lump-
sum transaction for $60,000. The purchase included:
⚫ 4,000 units of Product A (normal selling price $15 per unit)
.
8,000 units of Product B (normal selling price $5 per unit)
If Harrison sells 2,000 units of Product A, what is the gross profit?
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