Part 2 ABC are now in the month of July and make purchases and few sales. Calculate the Gross profit and Cost of Good Sold for ABC. Co by using perpetual inventory system a. FIFO b. Moving Weighted Average Method (COGS: a) $11388 b) $11484) Units Date July1 Price $ 46 (C.P) Total 1240 21@ July 7 July 10 July 15 July 10 July 29 Inventory Beg. Inventory Purchases Purchases Sale Purchases Sales 66@ 116 @ 61 @ 62 @ 152 @ 51 (C.P) 1890 56 (C.P) 130 (S.P) 2015 56 C.P) 3355 130 (S.P) 10385 S. P=Selling Price C.P = Cost = Price Part 1. Date Inventory Units Price $ Total Jan 1 Beg. 110 @ 7.00 (C.P) 770 Inventory Jan 10 Sold 80 @ 15.50(S.P) 1240 Feb 7 Purchased 300 @ 6.30 (C.P) 1890 Feb 15 Sold 130 @ 15.50 (S.P) 2015 Mar 10 Purchased 550 @ 6.10 (C.P) 3355 Mar 27 Purchased 500@ 6.00 (C.P) 3000 Mar 29 Sold 670@ 15.50 (S.P) 10385 S. P= Selling Price C.P = Cost Price Ques: Calculate the Gross profit and Cost of Good Sold for ABC. Co by using perpetual inventory system for Part 1 a. FIFO b. Moving Weighted Average Method (COGS: a) $5527 b) $5476)