Turner corporation acquired two inventory items at a lump-sum cost of $80,000. the acquisition included 3,000 units of product lf, and 7,000 units of product 1b. lf normally sells for $24 per unit, and 1b for $8 per unit.
if turner sells 1,000 units of lf, what amount of gross profit should it recognize?
a. $3,000b. $9,000.c. $16,000.d. $19,000.
Answers: 2
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Turner corporation acquired two inventory items at a lump-sum cost of $80,000. the acquisition inclu...
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