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

Answered: Image /qna-images/answer/4906fb65-99e6-4a83-869c-b49614516185.jpg

Answered: what was his gross margin for March?…

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.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 10EB: Canary Lawnmowers sold 70 lawnmower parts at $5.00 per part to a customer on December 4 with a cost...

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