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The following information relates to Glassworks Ltd's inventory transactions during the month of July. All of the units sold were priced at $21 per unit.
The following information relates to Glassworks Ltd's inventory transactions during the month of July. All of the units sold were priced at $21 per unit. Glassworks Ltd. Uses the periodic inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory for the month of July using: 1. FIFO ii. welghted-average (Round calculations for cost per unit to 2 decimal places, es. 10.52 and final answers to 0 decimal places, es. 61,052)
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