The following information relates to Indigo Back Falls Ltd.'s inventory transactions during the month of February.

Units Cost/Unit Amount

Feb. 1 Beginning inventory 9,150 $25.00 $228,750 10 Sale

7,930

14 Purchase 4,880 $26.00 $126,880 18 Purchase 610 $28.00 $17,080 25 Sale 4,880

26 Purchase 4,880 $37.00 $180,560 28 Sale 3,538

All of the units sold were priced at $87.00 per unit.

Indigo Back Falls Ltd. uses the perpetual inventory system. Calculate Indigo 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