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

Beginning inventory was drawn from the 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 weighted average cost flow method?

The following information pertains to Ping Company for 20.11. Ending inventory consisted of 30 units. Ping sold 210 units at $50 each. All purchases Compute the gross margin for Ping Company using the following cost flow assumption (1) FIFO, (2) LFFO, and (3) weighted average