Stubbs Company uses the perpetual inventory method. On January 1. Year 1, Stubbs purchased 750 units of inventory that cost $5.50 each. On January 10, Year 1, the company purchased an additional 600 units of inventory that cost $4.00 each. If Stubbs uses a weighted average cost flow method and sells 1,100 units of inventory for $11.00 each, the amount of gross margin reported on the income statement will be: (Round your intermediate calculations to two decimal places.) Multiple Choice $9,800. $8,675, $6,762. $6,787