July 1 Beginning inventory 4 8 14 22 28 Purchase Sale Sale Purchase Sale Units 4,000 6,000 5,870 1,570 5,000 3,600 Cost/Unit All of the units sold were priced at $18 per unit. $11.80 $12.30 4 $12.55 Amount $47,200 73,800 62,750

Current Attempt in Progress The following information relates to Glassworks Ltd's inventory transactions during the month of July. All of the units sold were priced at \\( \\$ 18 \\) per unit. i. FIFO ii. weighted-average (Round calculations for cost per unit to 2 decimal places, es. 10.52 and final answers to 0 decimal places, eg. 61,052.) eTextbook and Media Which of the cost formulas would produce the higher gross margin? Which cost formula produced the higher gross margin ratio? (Round answers to 2 decimal places eg. 61.05\\%)