Blue Spruce Limited stods a variety of sports equipment for sale to institutions. The following stock record card for basketballs was taken from the records at the December 31,2020 year end: A physical inventory on December 31, 2020, reveals that 100 basketballs are in stock. The bookkeeper informs you that all the discounts were taken. Assume that Blue Spruce Limited uses a periodic inventory system and records purchases at their invoice price less discounts. During 2020 , the average sales price per basketball was $22.25. Calculate the December 31, 2020 inventory using the FFFO formul a (Round answer to 2 decimal ploces, eg. 52.75.) Calculate the December 31, 2020 inventory using the FIFO formula. (Round answer to 2 decimal places, eg. 52.75.) Ending inventory $ eTextbook and Media Calculate the December 31. 2020 inventory using the weighted average cost formula. (Round weighted average cost per unit and the final answer to 2 decimal places, eg. 52.75.) Endinginventory 5 Prepare income statements for the year ended December 31, 2020, as far as the "gross profit" line under each of the FIFO and weighted average methods, and calculate the gross profit rate for each. (Round Gross profit rate to 1 decimal place, eg. 5.2% and all other answers to 2 decimal places, eg. 52.75.) eTextbook and Media