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:

$$ Your answer is correct.

Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO.

Cost of goods sold $

Gross margin $

Ending Inventory $

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X Your answer is incorrect.

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$.10\mathrm{.}52$ and final answers to $0$ decimal places, e$.$g$.61,052.)$

Cost of goods sold $$|$

Gross margin $

Ending Inventory $$|$

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