The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 Second purchase on May 17 Third purchase on May 23 Sale on May 31 1,000 units e $3.60 1,100 units e $3.80 1,300 units @ $3.90 900 units @ $4.00 3,300 units @ $5.50 What is the amount of gross margin assuming the weighted average cost flow method is used? (Round your intermediate calculations to 2 decimal places.)

The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 Second purchase on May 17 Third purchase on May 23 Sale on May 31 1,000 units e $3.60 1,100 units e $3.80 1,300 units @ $3.90 900 units @ $4.00 3,300 units @ $5.50 What is the amount of gross margin assuming the weighted average cost flow method is used? (Round your intermediate calculations to 2 decimal places.)

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Description: The inventory records for Radford Company reflected the following1,000 units @ $3.60Beginning inventory on May 1First purchase on May 71,100 units @ $3.801,300 units @ $3.90Second purchase on May 17Third purchase on May 23Sale on May 31900 units @ $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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