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

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The Following Information Relates To Hogs Back Falls Ltd S Inventory Transactions During The Month Of February Units Co 1 (117.83 KiB) Viewed 43 times

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 7.100 $27.00 $191,700 10 Sale 6,400 14 Purchase 4,300 $28.00 $120,400 18 Purchase 400 $31.00 $12,400 25 Sale 3,900 26 Purchase 3,700 $39.00 $144,300 28 Sale 2,700 All of the units sold were priced at $89.00 per unit. Hogs Back Falls Ltd. uses the perpetual inventory system. Calculate Hogs Back's cost of goods sold, gross margin, and ending inventory for the month of February using FIFO. Cost of Goods Sold $ 371.300 Gross Margin $ 785,700 Ending Inventory $ 97,500 Hogs Back Falls Ltd. uses the perpetual inventory system. Calculate Hogs Back's cost of goods sold, gross margin, and ending inventory for the month of February using weighted-average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 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? The method results in the higher gross margin.