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Stubbs Company uses the perpetual inventory method. On January 1, Year 1, Stubbs purchased 600 units of inventory that cost $4.00 each. On January 10, Year 1, the company purchased an additional 600 units of inventory that cost $325 each. If Stubbs uses a weighted average cost flow method and sells 1,100 units of inventory for $8.00 each, the amount of gross margin reported on the in statement will be: (Round your intermediate calculations to two decimal places.) Multiple Choice $3.993 $4775 4,807 O $5.225 Practice w C Prev 14 of 35 Next >