Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2014 are as follows: An end of the month (1/31/2014) inventory showed that 160 units were on hand. If the company uses FIFO and sells the units for $10 each, what is the gross profit for the month?
A) $1,188
B) $1,212
C) $2,400
D) $1,600

Question

Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2014 are as follows:  An end of the month (1/31/2014) inventory showed that 160 units were on hand. If the company uses FIFO and sells the units for $10 each, what is the gross profit for the month?
A) $1,188 
B) $1,212 
C) $2,400 
D) $1,600

Quizplus · Accepted Answer

The Answer of Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2014 are as follows:  An end of the month (1/31/2014) inventory showed that 160 units were on hand. If the company uses FIFO and sells the units for $10 each, what is the gross profit for the month?
A) $1,188 
B) $1,212 
C) $2,400 
D) $1,600

Dobler Company Uses a Periodic Inventory System