CPA Auto Supplies made the following purchases and sales of windshield wipers during March: Units Unit Cost Unit Sale Price Date Quantity Rate Mar. 1 Beginning 10 $ 6 3 Purchase 70 8 10 Sale 50 $16 14 Purchase 25 10 20 Purchase 100 11 26 Sale 125 16 Required 1. Assuming CPA Auto Supplies uses a perpetual inventory system, calculate the cost of goods sold during March using (a) the moving-weighted-average-cost method and (b) FIFO. Round all average amounts to the nearest cent. 2. Now assume CPA Auto Supplies uses a periodic inventory system. Calculate the cost of goods sold during March using: (a) the weighted-average-cost method (b) FIFO. Round all average amounts to the nearest cent. (c) Calculate gross margin for both methods. Which is higher? 3. What do you notice when you compare the FIFO results from Requirement 1 and Requirement 2?