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The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 800 units @ $3.20 First purchase @ May 7 900 units
The inventory records for Radford Company reflected the following:
Beginning inventory @ May 1 800 units @ $3.20
First purchase @ May 7 900 units @ $3.40
Second purchase @ May 17 1,100 units @ $3.50
Third purchase @ May 23 700 units @ $3.60
Sales @ May 31 2,700 units @ $5.10
What is the amount of gross margin assuming the weighted-average inventory cost flow method? (Round your intermediate calculations to two decimal places.)
Multiple Choice $9,720 $4,050 $5,400 $4,509
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