The inventory records for Radford Company reflected the following- Wha.docx
1. The inventory records for Radford Company reflected the following:
What is the amount of gross margin assuming the FIFO cost flow method?
Beginning inventory @ May 1 1,200 units @ $4.00
First purchase @ May 7 1,300 units @ $4.20
Second purchase @ May 17 1,500 units @ $4.30
Third purchase @ May 23 1,100 units @ $4.40
Sales @ May 31 4,000 units @ $5.90