[The following information applies to the questions displayed below.] The inventory records for Radford Co. reflected the following:Beginning inventory @ May 1100 units @ $4.00First purchase @ May 7300 units @ $4.40Second purchase @ May 17500 units @ $4.60Third purchase @ May 23100 units @ $4.80Sales @ May 31900 units @ $7.80What is the amount of gross margin assuming the FIFO cost flow method?
A. $3,000
B. $2,920
C. $4,020
D. $3,420
Answer: A
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