The inventory records for Radford Co. reflected the following Determine the amount of gross margin assuming the weighted average cost flow method.
A) $3,015
B) $2,412
C) $1,314
D) $2,970

Question

The inventory records for Radford Co. reflected the following  Determine the amount of gross margin assuming the weighted average cost flow method.
A) $3,015 
B) $2,412 
C) $1,314 
D) $2,970

Quizplus · Accepted Answer

[(100 × $4.00) + (300 × $4.40) + (500 × $4.60) + (100 × $4.80)] ÷ 1,000 units = $4.50 per unit; (900 × $7.80) - (900 × $4.50) = $2,610

The Inventory Records for Radford Co