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Fore's Toy Store Limited Fore's Toy Store Limited uses a perpetual inventory system. The following is a summary of the inventory transactions for February 2020:

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Fore's Toy Store Limited Fore's Toy Store Limited uses a perpetual inventory system. The following is a summary of the inventory transactions for February 2020: Date Beginning inventory February 5 February 12 February 20 Purchase Purchase Purchase Units 20.000 8,000 6,000 6,000 Price per unit $22.00 $24.00 $25.00 $26.00 On February 25 the company sold 30,000 units at a selling price per unit of $55.00 Required: Calculate each of the following for Fore's Toy Store using both the weighted average & first in first out (FIFO) methods: a. Cost of goods sold for February 2020. b. Ending inventory at February 29,2020 showing both $ & units. c. Gross profit for February 2020. You must show your work! Round to two decimal points if necessary. Page 1 of 1

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