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The inventory records for Radford Company reflected the following Beginning inventory on May 1 700 units @ $3.00 First purchase on May 7 800 units
The inventory records for Radford Company reflected the following
Beginning inventory on May 1 700 units @ $3.00
First purchase on May 7 800 units @ $3.20
Second purchase on May 17 1,000 units @$3.30
Third purchase on May 23 600 units @$3.40
Sale on May 31 2,400 units @4.90
What is the amount of gross margin assuming FIFO cost flow method is used?
A. $3,860
B. $4,560
C. $4,130
D. $7,630
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