Ivanhoe Company uses a perpetual inventory system. The following information is provided for cost of goods sold and ending inventory under FIFO and weighted average. Cost of goods sold Ending inventory FIFO $8,278 $1,422 Weighted Average $8.170 $1,530 4. Assume sale units to be 1,188 Assuming all units are sold for $15 per unit, and the product costs are decreasing, calculate gross proht under FIFO. Gross profit e Textbook and Media Assuming all units are sold for $15 per unit, and the product costs are decreasing, calculate gross proht under weighted average Gross profit