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:

Horizontal Axis

In graphing, this is the x-axis, typically used to represent the independent variable or categories being compared.

Straight Line

A geometric figure formed by two points and extended infinitely in both directions.

Decreasing Rate

Describes a situation where the rate at which something happens or is done reduces over time.

Increasing Rate

A situation where the magnitude or quantity of something grows at a pace that accelerates over a given period of time.