3 Required information (The following information applies to the questions displayed below.) The inventory records for Radford Co. reflected the following: Part 1 of 5 Beginning inventory @ May 1 First purchase @ May 7 Second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 1,500 units @ $4.60 1,600 units @ $4.80 1,800 units @ $4.90 1,400 units @ $5.00 4,800 units @ $6.50 02:22:02 Print If the company uses the weighted average inventory cost flow method, what is the average cost per unit (rounded) for May? ! 5 Required information [The following information applies to the questions displayed below.) Part 3 of 5 The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 First purchase @ May 7 Second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 1,500 units @ $4.60 1,600 units @ $4.80 1,800 units @ $4.90 1,400 units @ $5.00 4,800 units @ $6.50 02:21:58 Print What is the amount of ending inventory assuming the FIFO cost flow method? Sullivan Company uses the periodic inventory system. The following balances were drawn from the accounts of Sullivan Company prior to the closing process: 12 02:21:46 Sales revenue Beginning inventory balance Purchases Transportation-in Transportation-out Purchase discounts Ending inventory balance $16,000 4,000 8,800 800 1,000 600 4,400 Print What is the gross margin that will be shown on the income statement