Question: ABC. Ltd. uses a perpetual inventory system and the weighted average cost method.The following represent complete information on inventory transactions for ABC.Ltd. for the year:

ABC. Ltd. uses a perpetual inventory system and the weighted average cost method.The following represent complete information on inventory transactions for ABC.Ltd. for the year:

January 1 Opening inventory [ou] units at $ 8 per unit

June 1 Purchased 6000 units at $ 10 per unit

August 1 Purchased 5500 units at $ 9 per unit

October 1 Sold 10000 units at $ 26 per unit

Calculate gross margin for the year.

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