Use the Following Information for Questions Below
a Company

question 5

Multiple Choice

Use the following information for questions below
A company had the following inventory activity during May:
$\begin{array}{lrccc}&\text { Units }& \text { Unit Cost } & \text { Total Cost } & \text { Unit Price } \\\hlineBeginning~ inventory&100 & \$ 20.00 & \$ 2,000 & \\Purchase: ~November~3&900 & \$ 21.00 & 18,900 & \\Sale: \quad November ~5&(900) & & & \$ 30.00 \\Purchase: November ~15&1,000 & \$ 21.00 & 21,000 & \\Sale: \quad November~ 28&(900) & & & \$ 30.00\end{array}$
-If the company uses a perpetual system and the FIFO cost formula,what is the gross margin for the month?

• A)$12,100
• B)$16,200
• C)$16,300
• D)$17.100

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