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Planet Enterprises sells its product for $24.88 per unit and uses the Average Cost, perpetual method for tracking inventory costs. The following sequence of events
Planet Enterprises sells its product for $24.88 per unit and uses the Average Cost, perpetual method for tracking inventory costs. The following sequence of events has occurred during the month of September. Date Event Sep 1 Beginning Inventory: 80 units @ $13.33/unit Sep 3 Purchase 115 units @ $12.55/unit Sep 7 Sell 90 units Sep 11 Purchase 70 units @ $11.57/unit Sep 17 Sell 115 units Sep 23 Purchase 80 units @ $11.44/unit How much is total Gross Margin for the sale made on September 17
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