Sandhill Corporation acquired two inventory items at a lump-sum cost of $62500. The acquisition included 5700 units of knife X001, and 5700 units of knife X002. X001 normally sells for $40 per unit, and X002 for $10 per unit. If Sandhill sells 1200 units of X002. what amount of gross profit should it recognize? (Round percentage value and per unit value to 2 decimal places, e.g 52.75) $9372. O $2628. O $12000, O$1200.

Sandhill Corporation acquired two inventory items at a lump-sum cost of $62500. The acquisition included 5700 units of knife X001, and 5700 units of knife X002. X001 normally sells for $40 per unit, and X002 for $10 per unit. If Sandhill sells 1200 units of X002. what amount of gross profit should it recognize? (Round percentage value and per unit value to 2 decimal places, e.g 52.75) $9372. O $2628. O $12000, O$1200.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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