The gross margin for Cushing Company for the first quarter of last year was $325,000 when sales were $700,000. The beginning inventory of finished goods was $60,000 and the ending inventory of finished goods was $85,000. The cost of goods manufactured for the first quarter would have been Multiple Choice $350,000 $375,000 $100,000 $485,000 The high-low method is generally less accurate than the least squares regression method for analyzing the behaviour of mixed costs 16 True or False 1 points True False Book Reference