Table 6-6 Sam's Wholesale Bikes -Refer to Table 6-6

question 24

Multiple Choice

Table 6-6 Sam's Wholesale Bikes $$\begin{array} { | l | l | } \hline \text { January } 1 \text { inventory balance } & 15 \text { units at } \$ 350 \text { per unit } \\\hline \text { January } 4 \text { purchase } & 50 \text { units at } \$ 375 \text { per unit } \\\hline \text { January } 15 \text { sale } & 40 \text { units at } \$ 550 \text { per unit } \\\hline \text { February } 8 \text { purchase } & 80 \text { units at } \$ 405 \text { per unit } \\\hline \text { February } 15 \text { sale } & 70 \text { units at } \$ 550 \text { per unit } \\\hline\end{array}$$
-Refer to Table 6-6. What is the gross margin for the two months assuming that Sam's uses the perpetual inventory FIFO inventory method?

• A)$18,275
• B)$4,100
• C)$11,600
• D)$21,600

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