Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the companys inventory for the month of May: Cost Sales May 1 Beginning inventory 120 units $42,000 5 Sale 80 units $36,400 9 Purchase 40 units $15,400 13 Purchase 160 units $67,200 24 Sale 160 units $78,400 27 Sale 40 units $22,400 30 Purchase 60 units $27,720 (a1) New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect. Calculate Saddlery Companys cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold $Enter a dollar amount. Gross margin $Enter a dollar amount. Ending Inventory $Enter a dollar amount.