The following information relates to Glassworks Ltd's inventory transactions during the month of July. Units Cost/Unit Amount July 1 Beginning inventory 3.900 $12.00 $46,800 Purchase 6.100 $13.00 79,300 5.900 14 Sale 1,600 22 Purchase 4.590 $12.90 59.211 28 Sale 3.480 4 8 Sale All of the units sold were priced at $21 per unit. Glassworks Ltd. uses the perpetual inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory for the month of July using I. FIFO ii. weighted average (Round calculations for cost per unit to 4 decimal places, eg. 10.5219 and final answers to decimal places, eg. 61,052.) Cost of Goods Sold Gross Margin Ending Inventory $ $ $ FIFO Weighted- $ average i. $ $ $ $ eTextbook and Media Which of the cost formulas would produce the higher gross margin? The produces the higher gross margin e Textbook and Media