the following information relates to glassworks ltd inventory transactions during the month of july

/in /by

All of the units sold were priced at $20 per unit.
Required:
a. Glassworks Ltd. uses the perpetual inventory system. Calculate Glassworks cost of goods sold, gross margin, and ending inventory for the month of July using
i. FIFO
ii. weighted-average
b. Which of the cost flow assumptions would produce the higher gross margin?