Blossom Company uses a periodic inventory system. Its records show the following for the month of May, in which 137 units were sold. Unit Units Cost Total Cost May 1 Inventory 63 $1 $693 15 Purchases 53 14 742 24 Purchases 74 15 1,110 Totals 190 $2,545

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A:

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Q: What are the usefulness of the gross margin method?

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