Stubbs Company uses the perpetual inventory method and the weighted-average cost flow method. On January 1, Year 2, Stubbs purchased 750 units of inventory that cost $5.50 each. On January 10, Year 2, the company purchased an additional 600 units of inventory that cost $4.00 each. If the company sells 1100 units of inventory for $11 each, what is the amount of gross margin reported on the income statement? (Round your intermediate calculations to two decimal places.):
A. $6762
B. $9800
C. $6787
D. $8675
Answer: C
Business
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