$($a$1)$

Calculate Carla Vista Company's cost of goods sold, gross margin, and ending inventory using FIFO.

Cost of goods sold $

Gross margin $

Ending inventory $

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Carla Vista Company sells leather saddles and equipment for horse enthusiasts. Carla Vista uses the perpetual inventory system. The following schedule relates to the company's inventory for the month of May:

$\backslash$table$[[,,,$Cost,Sales$],[$May $1,$Beginning inventory,$210$ units,$$126,000,],[5,$Sale,$140$ units,,$$109,200],[9,$Purchase,$70$ units,$$46,200,],[13,$Purchase,$280$ units,$$201,600,],[24,$Sale,$280$ units,,$$235,200],[27,$Sale,$70$ units,,$$67,200],[30,$Purchase,$105$ units,$$83,160,]]$