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: May 1 Beginning inventory 150 units 5 Sale 100 units 9 13 24 27 30 Purchase Purchase Sale Sale Purchase Cost $60,000 $13600 50 units 200 units 200 units 50 units 75 units $39,600 $22,000 $96,000 Sales $52,000 $112,000 $32,0

00 Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold $154000 Gross margin $42000 Ending Inventory 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, e.g. 10.52 and final answers to 0 decimal places, e.g. 61,052.) Cost of goods sold $ Gross margin Ending Inventory Which cost formula produced the higher gross margin? (Round answers to 2 decimal places, e.g. 61.05%.)

Which cost formula produced the higher gross margin? (Round answers to 2 decimal places, e.g. 61.05%.) produces the higher gross margin Parts of your answer require attention: - Input 4 (numeric input) - Please enter an answer. - Input 5 (numeric input) - Please enter an answer. - Input 6 (numeric input) - Please enter an answer. - Input 7 (numeric input) - Please enter an answer. - Input 8 (numeric input) - Please enter an answer. - Input 9 (drop down box) - Please put an answer in each box. Which cost formula produced the higher gross margin? (Round answers to 2 decimal places, e.g. 61.05%.) produces the higher gross margin Parts of your answer require attention: - Input 4 (numeric input) - Please enter an answer. - Input 5 (numeric input) - Please enter an answer. - Input 6 (numeric input) - Please enter an answer. - Input 7 (numeric input) - Please enter an answer. - Input 8 (numeric input) - Please enter an answer. - Input 9 (drop down box) - Please put an answer in each box