Question Completion Status: QUESTION 15 A company which is a retail entity ended 2019 with 700 units in inventory at a unit cost of $18.50 each. During the first quarter of 2020, the company, who maintains its records using a perpetual inventory system, made 4 purchases & 3 sales of inventory as follows: Q1 Purchases: Date Quantity Price Extended 1 15-Jan 1,400 $19.25 $26,950 2 22-Feb 800 20.00 16,000 3 8-Mar 500 21.00 10,500 4 22-Mar 2,300 25.00 57,500 45,000 Q1 Sales: Date Quantity Price Extended 1 Jan 22 900 $30.00 $27,000 2 March 12 1,500 30.00 3 March 28 2,700 30.00 81,000 What is the company's first quarter gross profit assuming the weighted average inventory method is used? (Please round intermediate calculations to 3 decimals and round final answers to the nearest $1). A. $42,025 AAN Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers MacBook ODO 12 20 F F ES