62. total of $240 and used FIFO costing, the gross profit for the period would be a. $65. The LIFO inventory method assumes that the cost of the latest units purchased are c. the first to be allocated to cost of goods sold.aden Shoe Store has a beginning merchandise inventory of $15,000. During the period, purchases were $60,000; purchase returns, $2,000; and freight-in $5,000. A physical count of inventory at the end of the period revealed that $10,000 was still on hand.
PPG Pittsburgh Paints is a registered trademark of PPG Architectural Finishes, Inc. Dulux is a registered trademark of AkzoNobel and is licensed to PPG Architectural Coatings Canada, Inc. for use in Canada only.
What does ppm mean? This is an abbreviation for parts per million and it also can be expressed as milligrams per liter (mg/L). This measurement is the mass of a chemical or contaminate per unit volume of water. Seeing ppm or mg/L on a lab report means the same thing. One ppm is equivalent to the absolute fractional amount multiplied by one million. A better way to think of ppm is to visualize putting four drops of ink in a 55-gallon barrel of water and mixing it thoroughly.