Miton Company reported beginning inventory of $146,000 on January 1. Daring the year, it purchased inventery of 5625,000 and sold inventory for $950,000. A count of imventory at the end of the year determined that the cost of itrventocy on haod was 565,700 . Required: 1. What was Muten is cost of geods sold? 2. What ws Matton's gross mergin? Inventory Costing Methods: Peniodic Inventory Tyler Company has the following information related to purchases and sales of one of its inventory items: Assume that Tyler usets a periodic inventary system. Required: 1. Calculate the cost of poods sold and the cost of ending inventory using the Fifo, Hro, and avernge cost methods. (Moce. Use four decimal places for per unit calculatians and round all other numbers to the nearest whole dollar.)