accounting question 4

Accounting
Tutor: None Selected Time limit: 1 Day

i am stuck on the following problem. here is a pic of the problem

http://imgur.com/fy5Hx5Z

please include how you got the answer, include all work, it will help with future problems

Feb 15th, 2015

                         Parker Company     

                                                                                                                                                                        

 Under LIFO method, purchase of February was sold.

Sale price in March                                                  $40

Less cost of February purchase                               20

The amount of gross margin would be                     $20


Feb 15th, 2015

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