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Calculate gross profit

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Question - Travers Company wants to know the effect of different inventory methods on financial statements. Given below is information about beginning inventory and purchases for the current year.

January 2 Beginning Inventory 500 units at $3.00 April 7 Purchased 1,100 units at $3.20 June 30 Purchased 400 units at $4.00 December 7 Purchased 1,600 units at $4.40

Sales during the year were 2,700 units at $5.00. If Travers used the weighted-average method, calculate gross profit?

Reference no: EM132483313

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