Neverstop Corporation sells item A as part of its product line. Information about the beginning Inventory, purchases, and sales of item A are given in the following table for the first six months of the current year. The company uses a perpetual inventory system Turchase Number of Units Unit Cost 520 $2.90 Sales Number of Units Sales Price 320 34.40 Date January 1 (beginning Inventory) January 24 February 8 March 16 June 11 620 $3.00 320 $4.40 620 $3.00 Required: 1. Compute the cost of ending inventory by using the weighted average costing method. (Do not round intermediate calculations and round the final answer to 2 decimal places.) Ending inventory 2. Compute the gross profit for the first six months of the current year by using the FIFO costing method (Do not round Intermediate calculations and round the final answer to 2 decimal places.) Cross proti