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What was his gross margin for March

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Question - On March 1st, Manav had six TVs ($200 cost). Each Monday this month (March 7 th, 14 th, 21 st, and 28 th), Manav purchased ten TVs from his supplier. The price increased to $210 on March 12th, but dropped to $205 on March 28th. Manav sold five TVs in week one (March 1st to 7th), eight in week two, eleven in week three, and six in week four. Assuming the selling price was $400 per TV and Manav uses the moving-weighted-average method, what was his gross margin for March? Make all necessary journal entries and SHOW YOUR WORK! b) Repeat 3a, but using the first-in-first-out method.

Reference no: EM132846748

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