Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the periodic inventory system. The following schedule relates to the company's inventory for the month of May: May 1 Beginning inventory 90 units Cost $49.500 Sales 5 Sale 60 units $42,900 Purchase 30 units $18.150 13 Purchase 120 units $79,200 24 Sale 120 units 27 Sale 30 units $92,400 $26,400 30 Purchase 45 units $32,670 (a1) Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold Gross margin SA Tune here to search O C