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Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory...

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Accounting

Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the company's inventory for the morith of May.
Cost
Sales
May 1
Beginning inventory
180 units
$108.000
5
Sale
120 units
$93,600
Purchase
60 units
$39,600
13
Purchase
240 units
$172,800
24
Sale
240 units
$201.600
22
Sale
60 units
$57,600
30
Purchase
90 units
$71.280
Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO
Cost of goods sold
Gross margin
S
Ending Inventory
5

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