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The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 First purchase @ May 7 Second purchase @ May 17 Third
The inventory records for Radford Company reflected the following:
Beginning inventory @ May 1
First purchase @ May 7
Second purchase @ May 17
Third purchase @ May 23
Sales @ May 31
1,600 units @ $4.80
1,700 units @ $5.00
1,900 units @ $5.10
1,500 units @ $5.20
5,200 units @ $6.70
What is the amount of gross margin assuming the FIFO cost flow method?
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