Question: Beginning inventory @ May 1 2,100 units @ $ 5.80 First purchase @ May 7 2,200 units @ $ 6.00 second purchase @ May 17

Beginning inventory @ May 1 2,100 units @ $ 5.80
First purchase @ May 7 2,200 units @ $ 6.00
second purchase @ May 17 2,400 units @ $ 6.10
Third purchase @ May 23 2,000 units @ $ 6.20
Sales @ May 31 6,600 units @ $ 7.70

Determine the amount of gross margin assuming the FIFO cost flow method.

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