The following information relates to Skysong Ltd.'s inventory transactions during the month of August. August 1 6 8 16 20 26 30 Beginning inventory Purchase Sale Purchase Sale Purchase Sale Units Cost/Unit Amount 15 35 5 10 40 5 10 All of the units sold were priced at $1,840 per unit. $920 $736 A $1,012 $828 $13,800 25,760 10,120 4,140

Skysong Ltd. uses the periodic inventory system. Calculate Skysong's cost of goods sold, gross margin, and ending inventory for the month of August using: I. FIFO ii. Weighted-average (Round final answers to 0 decimal ploces, es. 61,052.) Which of the cost formulas would produce the higher gross margin? The following information relates to Skysong Ltd's inventory transactions during the month of August. All of the units sold were priced at $1,840 per unit. The following information relates to Skysong Ltd.'s inventory transactions during the month of August. All of the units sold were priced at $1,840 per unit