The inventory records for Radford Co. reflected the following Beginning inventory May 1 First purchase May 7 second purchase e May 17 Third purchase e May 23 Sales e May 31 300 units $2.20 400 units $2.40 600 units $2.50 200 units $2.60 1,200 unitse $4.10 Determine the amount of gross margin assuming the FIFO cost flow method. Multiple Choice $1,940 $2,280 $2,050 $2,870