The following information relates to Good Kitchen Ltd's inventory transactions during the month of March....
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The following information relates to Good Kitchen Ltd's inventory transactions during the month of March. Cost/Unit $19.00 Amount $115,900 Mar. 1 7 12 16 18 27 29 Beginning inventory Sale Purchase Purchase Sale Purchase Sale Units 6,100 3,900 2,300 800 2,600 4,400 3,300 $21.00 $21.00 $48.300 $16,800 $26.00 $114,400 All of the units sold were priced at $61.00 per unit. Good Kitchen Ltd. uses the perpetual inventory system. Calculate Good Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using FIFO. Cost of Goods Sold $ Gross margin $ Ending Inventory $ e Textbook and Media Good Kitchen Ltd. uses the perpetual inventory system. Calculate Good Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using weighted average. (Round calculations for cost per unit to 2 decimal places, eg. 10.52 and final answers to decimal places, eg. 61,052.) Cost of Goods Sold $ Gross margin $ Ending Inventory $ e Textbook and Media Which of the cost formulas would produce the higher gross margin? The method results in the higher gross margin
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