Refer to the information in S6-1 . Calculate the gross margin for the month of August.

Data from S6-1

Garda's Equipment has the following items in its inventory on August 1:

The company uses the specific-unit-cost method for costing inventory. During August, it sold units \(6 \mathrm{X} 6 \mathrm{~A} 1\) and \(6 \mathrm{~B} 6 \mathrm{~B} 8\) for \(\$ 15,000\) each and purchased unit \(6 \mathrm{~A} 7 \mathrm{M} 6\) for \(\$ 11,200\). What is the value of the ending inventory at August 31 ?

Transcribed Image Text:

Serial Number Cost 6X6A1 $ 9,100 6Y6M5 9,300 6B6D8 8,700 6R7R5 10,950