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The inventory records for Radford Company reflected the following Beginning inventory on May 1 1,000 units @ $3.60 First purchase on May 7 1,100 units
The inventory records for Radford Company reflected the following
| Beginning inventory on May 1 | 1,000 units @ $3.60 |
|---|---|
| First purchase on May 7 | 1,100 units @ $3.80 |
| Second purchase on May 17 | 1,300 units @ $3.90 |
| Third purchase on May 23 | 900 units @ $4.00 |
| Sale on May 31 | 3,300 units @ $5.50 |
What is the amount of gross margin assuming the weighted average cost flow method is used?
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Financial Accounting For Executives And MBAs
Authors: Paul Simko, James Wallace, Joseph Comprix
5th Edition
1618533665, 9781618533661
