Use your results from Exercises 6-2 and 6-4 to calculate the gross margin for Creative Kaos Store under both the FIFO and the moving-weighted-average-cost methods. Explain why the gross margin is higher under the moving-weighted-average-cost method.
In Exercise 6-2 and 6-5

Transcribed Image Text:

Date Quantity Unit Cost May 1 Balknx Sale Purchase Sale Purchase $900 10 17 2