Nash's Trading Post, LLC uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows:     Units   Per unit price   Total Balance, 1/1/2022   220   $ 4.00   $ 880 Purchase, 1/15/2022   110   .. 3.90   429 Purchase, 1/28/2022   110   .. 4.10   451

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Nash's Trading Post, LLC uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows:
   
Units
 
Per unit price
 
Total
Balance, 1/1/2022
  220   $ 4.00   $ 880
Purchase, 1/15/2022
  110   .. 3.90   429
Purchase, 1/28/2022
  110   .. 4.10   451

An end of the month (1/31/2022) inventory showed that 180 units were on hand. If the company uses FIFO and sells the units for $ 7each, what is the gross profit for the month?
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