Table 6-5
Assume the Following Data for Kruger Sales for November

question 21

Essay

Table 6-5
Assume the following data for Kruger Sales for November 2019: $\begin{array}{llcc} \text {Beginning inventory Nov. 1 } & 5 \text { units at } \$ 90 \text { each } \\ \text {Sale Nov. 3 } &3 \text { units at } \$ 120 \text { each } \\ \text {Nov. 6 purchase } &11 \text { units at } \$ 95 \text { each }\\ \text { Sale Nov. 8} &4 \text { units at } \$ 120 \text { each }\\ \text { Sale Nov. 9 } & 3 \text { units at } \$ 120 \text { each }\\\end{array}$
On November 30, a physical count reveals 6 units on hand.
-Refer to Table 6-5. Calculate gross margin for Kruger Sales assuming the perpetual FIFO cost method is being used.

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Definitions:

Numerical Amount

A quantity or value expressed in numbers.

Written Amount

The value of a document or instrument stated in words.

Five And 62/100

A manner to express the numeric value 5.62, often found in financial documents.

Cash Money

Physical money in the form of banknotes and coins, as opposed to electronic or digital forms of currency.