Application Problem 7-6A a-b (Part Level Submission) The following information relates to Glassworks Ltd.'s inventory transactions during the month of July. July 1 4 8 14 22 28 Beginning inventory Purchase Sale Sale Purchase Sale Units Cost/Unit Amount 4,300 $12.00 $51,600 5,700 $13.00 74,100 6,600 1,400 4,690 $12.50 59,094 2,970 All of the units sold were priced at $18 per unit. (a) Glassworks Ltd, uses the perpetual inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory for the month of July using: 1. FIFO ii. weighted average (Round calculations for cost per unit to 4 decimal places, e.g. 10.5219 and final answers to o decimal places, e.g. 61,052.) Cost of Goods Sold Gross Margin Ending Inventory i. FIFO ii. Weighted average