Question: The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 First purchase May 7 Second purchase May 17 Third purchase May

The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 First purchase May 7 Second purchase May 17 Third purchase May 23 Sales May 31 2,200 units @ $6.00 2,300 units @ $6.20 2,500 units @ $6.30 2,100 units @ $6.40 7,000 units @ $7.90 What is the amount of gross margin assuming the FIFO cost flow method? Multiple Choice $43,210 $32,010 $12,090 E < Prev 13 of 30 Next > MacBook Air

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1. What might have led to the misinformation?

2. How will you handle the situation?

3. Write a policy statement to address these issues.