Table 6-2 On December 31, a Physical Count Reveals 80 Units in
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Table 6-2 $\begin{array} { | l | l | } \hline \text { Manuary } 1 \text { inventory balance } & 100 \text { units at } \$ 10 \text { per unit } \\\hline \text { March } 2 \text { purchase } & 50 \text { units at } \$ 11 \text { per unit } \\\hline \text { July } 8 \text { purchase } & 80 \text { units at } \$ 10 \text { per unit } \\\hline \text { November } 15 \text { purchase } & 30 \text { units at } \$ 12 \text { per unit } \\\hline\end{array}$ On December 31, a physical count reveals 80 units in ending inventory.
-Referring to Table 6-2, assuming all goods are sold throughout the year for $19 per unit, gross margin calculated under the periodic FIFO method would be:

A) $1,620.
B) $1,510.
C) $1,260.
D) $1,570.

Correct Answer:

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