Problem $6-7$A Gross profit comparisons and cost flow assumptions perpetual LO$2,3$Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December $31,2023.$Beginning InventoryMarch$10$March$20$purchased soldMay$13$purchasedAugust$5$purchasedSeptember $10$sold$271$ units @$ $81/$unit$204$ units @$ $85/$unit$379$ units @$$174/$unit$288$ units @$ $77/$unit$237$ units @$ $67/$unit$469$ units @$$174/$unitOntario Skateboard Company employs a perpetual inventory system.Required:$1.$ Calculate the dollar value of ending inventory and cost of goods sold using: $($Do not round intermediate calculations. Round the final answers to $2$ decimal places. Round all weighted average unit costs to two decimal places.$)$Ending InventoryCost of Goods Solda.FIFOMoving weighted average$+!$Ontario Skateboard CompaHelp Save & ExitSubmit$2.$ Using your calculations from Part $1,$ complete the following schedule: $($Do not round intermediate calculations. Round the final answers to $2$ decimal places. Round all weighted average unit costs to two decimal places.$)$