The following information was drawn from the inventory records of Alpha Company as of Year 2.

Beginning inventory(purchased in year 1) 200 Units @ $5 each Purchases made in Year 2 800 Units @ $8 each Units Sold 900 Units @ $12 each

Which of the following is the amount of the gross margin shown on the Year 2 income statement assuming Alpha uses a LIFO cost method?

Required information The following information pertains to Ping Company for 20X1. Ending inventory consisted of 30 units. Ping sold 210 units at $50 each. All purchases a Compute the gross margin for Ping Company using the following cost flow assumption (1) FIFO, (2) LIFO, and (3) weighted average