The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 Second purchase on May 17 Third purchase on May 23 Sale on May 31 900 units @ $3.40 1,000 units @ $3.60 1,200 units @ $3.70 800 units @ $3.80 3,000 units @ $5.30 What is the amount of gross margin assuming the weighted average cost flow method is used? (Round your intermediate calculations to 2 decimal places.)