Evansville Company had the following transactions for the month. Number Cost per Unit of Units Purchase Purchase 7 8,500 5 $7,000 6 8,000 Purchase Calculate the gross margin for each of the following cost allocation methods, assuming Evansville soid just one unit of these goods for $11,500. Round your Intermediate calculations and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) B. Last-in, First-out (LFO) C. Weighted Average (AVG) When prices are rising (inflation), which costing method would produce the highest value for gross margin? First-in. First-out