Question: (Appendices) ENDING INVENTORY, COST OF GOODS SOLD, AND GROSS MARGIN. Wilson Company sells a single product. At the beginning of the year, Wilson had 120

(Appendices) ENDING INVENTORY, COST OF GOODS SOLD, AND GROSS MARGIN. Wilson Company sells a single product. At the beginning of the year, Wilson had 120 units in stock at a cost of $8 each. During the year Wilson purchased 850 more units at a cost of $8 each and sold 210 units at $13 each, 250 units at $15 each, and 360 units at $14 each.

REQUIRED:

What is the amount of sales revenue, ending inventory, cost of goods sold, and gross margin for the year? LO3

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