Question: Using weighted average, what is gross margin? Date Source Units Purchased Cost Per Unit Total Cost 1/1/2011 Beginning Inventory 1000 $25 $25,000 2/1/2011 Purchase 700

Using weighted average, what is gross margin?

Date Source Units Purchased Cost Per Unit Total Cost

1/1/2011 Beginning Inventory 1000 $25 $25,000

2/1/2011 Purchase 700 $23 $16,100

3/1/2011 Purchase 1,500 $20 $30,000

Total Goods Available for Sale 3,200 $71,100

Units sold 2300 $40

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