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-17 Question 4 of 6 View Policies Current Attempt in Progress The following information relates to Glassworks Ltd's inventory transactions during the month of July. Units Cost/Unit Amount July 1 Beginning inventory 3,800 $12.00 $45,600 4 Purchase 6,200 $12.50 77,500 8 Sale 6.000 14 Sale 22 Purchase 5,300 $13.00 68.900 28 Sale 3,400 1.700 + All of the units sold were priced at $19 per unit. Glassworks Ltd. uses the perpetual inventory system. Calculate Glassworks cost of goods sold, gross margin, and ending Glassworks Ltd, uses the perpetual inventory system Calculate Glassworks cost of goods sold, gross margin, and ending inventory for the month of July using L. FIFO it, weighted average (Round calculations for cost per unit to 4 decimal places, es 10:5219 and final answers to decimal places, ex 61.052) Cost of Goods Sold Gross Margin Ending Inventory 137400 54600 FIFO $ IL Weighted average eTextbook and Media Which of the cost formulas would produce the higher gross margin? The Weighted average produces the higher gross margin e Textbook and Media