40.

The inventory records for Radford Co. reflected the following:

Beginning inventory @ May 1	2,100 units @ $5.80
First purchase @ May 7	2,200 units @ $6.00
Second purchase @ May 17	2,400 units @ $6.10
Third purchase @ May 23	2,000 units @ $6.20
Sales @ May 31	6,600 units @ $7.70

What is the amount of gross margin assuming the weighted-average inventory cost flow method? (Round your intermediate calculations to two decimal places.)

43.

As of January 1, Year 1, Farley Co. had a credit balance of $533,000 in its allowance for uncollectible accounts. Based on experience, 1% of Farley's credit sales have been uncollectible. During Year 1, Farley wrote off $630,000 of accounts receivable. Credit sales for Year 1 were $19,900,000. In its December 31, Year 1, balance sheet, what amount will Farley report as allowance for uncollectible accounts?