Assume the following data for Victoria's Retail for November 2020 Beginning inventory Nov 1 5 units at $90 each Sale Nov 3 3 units at $120 each Nov 6 purchase 11 units at $95 each Sale Nov 8 4 units at $120 each Sale Nov 9 3 units at $120 each On November 30, a physical count reveals 6 units on hand Calculate gross margin for Victoria's Retail assuming the perpetual movingweightedaveragecost method is being used

Answer rating: 100% (QA)

Calculation of cost of goods available for sale date Units Units cost Total cost Nov 1 5 90 450 Nov ... View the full answer