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Soft Touch Company sells leather furniture. The following schedule relates to the companys inventory for...

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Accounting

Soft Touch Company sells leather furniture. The following schedule relates to the companys inventory for the month of April:

Cost Sales
April 1 Beginning inventory 75 units $45,150
3 Purchase 50 units 30,850
5 Sale 34 units $38,624
11 Purchase 27 units 17,631
15 Sale 51 units 60,588
22 Sale 40 units 50,280
28 Purchase 48 units 32,208

Soft Touch uses the perpetual inventory system.

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Calculate Soft Touch Company's cost of goods sold, gross margin, and ending inventory using: I. FIFO ii. Weighted average (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to decimal places, e.g. 61,052.) Cost of Goods Sold Gross Margin Ending Inventory $ $ GA i. FIFO $ $ $ ii. Weighted average

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