1. Toolworks Ltd. uses the perpetual inventory system. Calculate Toolworks cost of goods sold, gross margin, and ending inventory for the month of October using FIFO. 2. Weighted average

Current Attempt in Progress The following information relates to Toolworks Ltd's inventory transactions during the month of October. Units Cost/Unit Amount Oct. 1 Beginning inventory 2,500 $12.50 $31,250 5 Sale 350 11 Purchase 1,170 $13.00 $15,210 13 Purchase 490 $12.50 $6,125 15 Sale 1,510 29 Purchase 2,510 $11.10 $27,861 31 Sale 3,480 All of the units sold on October 5 were priced at $26.00 per unit All of the units sold on October 15 and 31 were priced at $32.00 per unit. (al) X Your answer is incorrect. Toolworks Ltd. uses the perpetual inventory system. Calculate Toolworks' cost of goods sold. gross margin, and ending inventory for the month of October using FIFO