Required information The inventory records for Raymond Co. reflected the following Beginning Inventory @ May 280 units @ $1.30 First Purchase @ May 7 440 units @ $1.90 Second Purchase @ May 17 470 units @ $1.90 Third Purchase @ May 23 02. 240 units @ $2.00 - Sales @ May 31 1,250 units @ $2.20 Determine the amount of gross margin assuming the weighted average cost flow method. (Do not round average cost per unit and round your answer to the nearest whole number.) Multiple Choice o $501 o ) $480 o $324 o $657