he following information relates to eCycle Ltd.'s inventory transactions during the month of August.

		Units	Cost/Unit	Amount
August 1	Beginning inventory	15	$1,000	$15,000
6	Purchase	35	$800	28,000
8	Sale	5
16	Purchase	10	$1,100	11,000
20	Sale	40
26	Purchase	5	$900	4,500
30	Sale	10

All of the units sold were priced at $2,000 per unit.

1. eCycle Ltd. uses the perpetual inventory system. Calculate eCycle's cost of goods sold, gross margin, and ending inventory for he month of August using:

i. FIFO. ii. Weighted-average. Round per unit cost to two decimal places.

2. Which of the cost formulas would produce the higher gross margin?