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The inventory records for Raymond Co. reflected the following Beginning Inventory @ May 1 370 units @ $2.20 First Purchase @ May 7 620 units
The inventory records for Raymond Co. reflected the following |
Beginning Inventory @ May 1 | 370 units @ $2.20 |
First Purchase @ May 7 | 620 units @ $2.80 |
Second Purchase @ May 17 | 560 units @ $2.80 |
Third Purchase @ May 23 | 420 units @ $2.70 |
Sales @ May 31 | 1,700 units @ $3.10 |
Determine the amount of gross margin assuming the weighted average cost flow method. (Do not round average cost per unit and round your answer to the nearest whole number.) |
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