The Records of Weight Unlimited Showed the Following for June

Essay

The records of Weight Unlimited showed the following for June: $\begin{array} { l } \text { Sales.}&2.100 \text { units at } \$ 100 \text { each }\\ \text { Purchases.}&2,000 \text { units at } \$ 75 \text { each }\\ \text {Beginning inventory. }&3,000 \text { units at } \$ 56 \text { each }\\\end{array}$
Assuming the periodic inventory system is used complete the following tabulation. $$\begin{array} { | l | l| l |} \hline & \text { FIFO } & \text { Weighted Average } \\\hline \text { (1) Sales............ } & \$ & \$ \\\hline \text { (2) Cost of goods sold... } & \$ & \$ \\\hline \text { (3) Gross margin.......... } & \$ & \$ \\\hline \text { (4) Ending inventory.... } & \$ & \$\\\hline\end{array}$$ Computations:
FIFO:
Weighted Average: