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The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 2100 units @ $5.80 First purchase @ May 7 2200 units
The inventory records for Radford Co. reflected the following:
| Beginning inventory @ May 1 | 2100 units @ $5.80 |
| First purchase @ May 7 | 2200 units @ $6.00 |
| Second purchase @ May 17 | 2400 units @ $6.10 |
| Third purchase @ May 23 | 2000 units @ $6.20 |
| Sales @ May 31 | 6600 units @ $7.70 |
What is the amount of gross margin assuming the weighted-average inventory cost flow method? (Round your intermediate calculations to two decimal places.)
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Managerial Accounting
Authors: Peter Clarke
2nd Edition
9781907214240
