Stubbs company uses the perpetual inventory method. on january 1, year 1, stubbs purchased 800 units of inventory that cost $6.00 each. on january 10, year 1, the company purchased an additional 600 units of inventory that cost $4.25 each. if stubbs uses a weighted average cost flow method and sells 1,200 units of inventory for $12.00 each, the amount of gross margin reported on the income statement will be: (round your intermediate calculations to two decimal places.)

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?