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Swifty Company uses a periodic inventory system. Details for the inventory account for the
month of January, 2020 are as follows: An end of the month (1/31/20) inventory showed that 170
units were on hand. If the company uses FIFO and sells the units for $8 each, what is the gross
profit for the month? $610 $1098 $1988 $760

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Swifty Company uses a periodic inventory system- Details for the inven.docx

  • 1. Swifty Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: An end of the month (1/31/20) inventory showed that 170 units were on hand. If the company uses FIFO and sells the units for $8 each, what is the gross profit for the month? $610 $1098 $1988 $760