At the beginning of its operations in March 2016, Mastiff Supplies Ltd. began with 7,380 units of inventory that it purchased at a cost of $6.60 each. The companys purchases during March were as follows:

Mastiff Supplies uses a perpetual inventory system.

Calculate the cost of goods sold for March using the weighted-average cost formula. (Round calculations for cost per unit to 4 decimal places

Calculate the cost of goods sold for March using the first-in, first-out cost formula.

Which of the two inventory cost formulas results in the greater gross margin for March?

Which of the two inventory cost formulas results in the larger inventory balance at the end of March? (Round calculations for cost per unit to 4 decimal places

March 13 5,330 units $7.50 Sales during March: March 2 March 20 4,990 units 2,700 units