Stubbs company uses the perpetual inventory method. on january 1, year 1, stubbs purchased 400 units of inventory that cost $8.00 each. on january 10, year 1, the company purchased an additional 600 units of inventory that cost $9.00 each. if stubbs uses a weighted average cost flow method and sells 700 units of inventory for $16.00 each, the amount of gross margin reported on the income statement will be:
a. $5,180.
b. $5,250.
c. $5,000.
d. $6,020.
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Stubbs company uses the perpetual inventory method. on january 1, year 1, stubbs purchased 400 units...
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