Part III (6 Marks) PPE Company made purchases and sales of a certain product in the current year as outlined below: January 1 Beginning inventory 400 units @ $10 January 25 Sold 100 units February 28 Purchased 110 units @ $12 April 1 Sold 225 units This product has a selling price of $35.00 per unit. REQUIRED: The business uses a perpetual inventory system. Calculate the dollar value of ending inventory and cost of goods sold for the year. Costs are assigned on the basis of Moving Weighted Average. Show your calculations (round calculations to two decimals). Date Purchases Cost of Goods Sold Inventory Balance