Question
The inventory records for Radford Company reflected the following Beginning inventory on May 1 100 units @ $4.00 First purchase on May 7 300 units
The inventory records for Radford Company reflected the following
| Beginning inventory on May 1 | 100 units @ $4.00 |
|---|---|
| First purchase on May 7 | 300 units @ $4.40 |
| second purchase on May 17 | 500 units @ $4.60 |
| Third purchase on May 23 | 100 units @ $4.80 |
| Sales on May 31 | 900 units @ $7.80 |
What is the amount of gross margin assuming the weighted average cost flow method is used?
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
