A retailer made the following purchases of inventory in October.
There was no opening inventory for October.
The business uses the first-in first-out (FIFO) method to value its inventory.
In October, 200 units were sold for $\$ 900$ each.
What was the gross profit for October?
1 )
$\$ 76667$
2 )
$\$ 77000$
$\$ 77500$
4 )
$\$ 96250$
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