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The following information relates to Glassworks Ltd.s inventory transactions during the month of July. Units Cost/Unit Amount July 1 Beginning inventory 3,700 $12.00 $44,400 4

The following information relates to Glassworks Ltd.s inventory transactions during the month of July.

Units Cost/Unit Amount
July 1 Beginning inventory 3,700 $12.00 $44,400
4 Purchase 6,300 $13.00 81,900
8 Sale 6,000
14 Sale 1,400
22 Purchase 4,980 $12.80 63,744
28 Sale 3,660

All of the units sold were priced at $18 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, e.g. 10.5219 and final answers to 0 decimal places, e.g. 61,052.)

Cost of Goods Sold Gross Margin Ending Inventory
i. FIFO $ $ $
ii. Weighted-average $ $ $

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