1 Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 30 Purchased 10 points 75 units @ $12.00 = $ 250 units @ $13.00 = 500 units @$14.00 = 825 units 900 3,250 7,000 Cost of goods available for sale $ 11,150 Units available for sale Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit: Jan. 10 70 units Mar. 15 180 units. Oct. 5 450 units Totals 700 units b bints 1 The business uses a perpetual inventory system 1. Determine the costs that should be assigned to the ending inventory and to goods sold under the following methods. (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Answer is complete but not entirely correct. Ending Inventory Cost of Goods Sold a FIFO $ 1,568.00 S 9.522.00 b Moving weighted average $ 1,518.84 S 9,564.16 10 points 2. Also calculate the gross profit under each method. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Answer is complete but not entirely correct. a FIFO b. Moving weighted average Gross Profit 15.258.00 15.215.840