Ayayai Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June:

Date			Explanation		Units		Unit Cost/Price					Total Cost
June	1		Beginning inventory		1,480			$5				$7,400
	12		Purchases		2,340			6				14,040
	15		Sale		(2,420	)		12
	16		Purchases		4,280			7				29,960
	23		Purchases		1,580			8				12,640
	27		Sales		(5,580	)		15

alculate the gross profit for the month of June using (1) FIFO and (2) average cost. (Round average final answers to 2 decimal places, e.g. 1.25. Do not round intermediate calculations.)

	FIFO	Average Cost
Gross profit	$enter a dollar amount	$enter a dollar amount