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		6,900		$22.00		$151,800
10		Sale		6,200
14		Purchase		4,300		$23.00		$98,900
18		Purchase		400		$25.00		$10,000
25		Sale		4,400
26		Purchase		4,000		$33.00		$132,000
28		Sale		3,000

All of the units sold were priced at $88.00 per unit.

1)

Hogs Back Falls Ltd. uses the periodic inventory system. Calculate Hogs Backs cost of goods sold, gross margin, and ending inventory for the month of February using FIFO.

Cost of Goods Sold		$.
Gross Margin		$
Ending Inventory		$

Hogs Back Falls Ltd. uses the periodic inventory system. Calculate Hogs Backs 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, e.g. 10.5217 and final answers to 0 decimal places, e.g. 61,052.)

Cost of Goods Sold		$
Gross Margin		$
Ending Inventory		$

Which of the cost formulas would produce the higher gross margin?