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The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 1,400 units @ $ 4.40 First purchase @ May 7 1,500
The inventory records for Radford Co. reflected the following
Beginning inventory @ May 1 | 1,400 | units | @ | $ | 4.40 | |
First purchase @ May 7 | 1,500 | units | @ | $ | 4.60 | |
second purchase @ May 17 | 1,700 | units | @ | $ | 4.70 | |
Third purchase @ May 23 | 1,300 | units | @ | $ | 4.80 | |
Sales @ May 31 | 4,500 | units | @ | $ | 6.30 | |
Determine the amount of gross margin assuming the weighted average cost flow method. (Round your intermediate calculations to 2 decimal places.)
Multiple Choice
$7,515
$21,600
$6,750
$14,400
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