Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the company's inventory for the month of May: Cost Sales May 1 Beginning inventory 210 units $126,000 5 Sale 140 units $109,200 9 Purchase 70 units $46,200 13 Purchase 280 units $ 201,600 24 Sale 280 units $235,200 27 Sale 70 units $67,200 30 Purchase 105 units $83,160 Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold $ Gross margin $ Ending Inventory $ eTextbook and Media Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using weighted average. (Round calculations for cost per unit to 2 decimal places, eg. 10.52 and final answers to O decimal places, eg. 61,052) Cost of goods sold tA $ Gross margin $ Ending Inventory $ eTextbook and Media Which cost formula produced the higher gross margin? (Round answers to 2 decimal places, eg. 6105%) Gross Margin Ratio FIFO % Weighted average % produces the higher gross margin. eTextbook and Media