Question: 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

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 Sales May 31 1,100 units @ $4.40 3,900 units @ $5.90 What is the amount of gross margin assuming the FIFO cost flow method? Multiple Choice $6,260 O $7,410 O $16,497 $6730 < Prev NG of 50 Next >

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