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The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 1,300 units @ $4.20 First purchase @ May 7 1,400 units
The inventory records for Radford Co. reflected the following:
Beginning inventory @ May 1 | 1,300 units @ $4.20 |
First purchase @ May 7 | 1,400 units @ $4.40 |
Second purchase @ May 17 | 1,600 units @ $4.50 |
Third purchase @ May 23 | 1,200 units @ $4.60 |
Sales @ May 31 | 4,200 units @ $6.10 |
What is the amount of gross margin assuming the weighted-average inventory cost flow method? (Round your intermediate calculations to two decimal places.)
$19,320 | ||
$12,600 | ||
$7,014 | ||
$6,300 | ||
None of the above. |
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