The following information relates to Hogs Back Falls Ltd's inventory transactions during the month of February Units Cost/Unit Amount Feb. 1 Beginning inventory 7.000 $20.00 $140,000 10 Sale 6.100 14 Purchase 4,100 $21.00 $86.100 18 Purchase $24.00 $9.600 25 Sale 3.700 26 Purchase 4200 $28.00 $117.600 28 2,800 400 Sale All of the units sold were priced at $90.00 per unit. Hogs Back Falls Ltd. uses the periodic inventory system. Calculate Hogs Back's cost of goods sold, gross margin, and ending inventory for the month of February using FIFO. $ Cost of Goods Sold Gross Margin Ending Inventory $ $ eTextbook and Media Hogs Back Falls Ltd. uses the periodic inventory system. Calculate Hogs Back's cost of goods sold, gross margin, and ending inventory for the month of February using weighted-average. (Round calculations for cost per unit to 4 decimal places, eg. 10.5217 and final answers to decimal places, eg. 61,052.) $ Cost of Goods Sold Gross Margin Ending Inventory $ $ $ eTextbook and Media Which of the cost formulas would produce the higher gross margin? produces the higher gross margin