Problem 6-4A Gross profit comparisons and cost flow assumptions-perpetual LO2, 3 eXcel som CHECK FIGURES: 1. Ending Inventory: a. $9.600.00; b. $10,982.30 Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning inventory 280 units $80/unit Feb 10 purchased 195 units @ $84/unit Feb. 20 sold 360 units a $160/unit Mar. 13 purchased. a $78/unit Sept. 5 purchased Oct. 10 sold @ $160/unit Gale Company employs a perpetual inventory system. 290 units 255 units 510 units $64/unit CHAPTER 6 Inventory Costing and Valuation Required 1. Calculate the dollar value of ending inventory and cost of goods sold using: a. FIFO b. Moving weighted average. Round all unit costs to two decimal places. 2. Using your calculations from Part 1, complete the following schedule: Moving Weighted Average FIFO Sales Cost of goods sold Gross profit Analysis Component: How would the gross profits calculated in Part 2 above change if Gale Company had been experiencing increasing prices in the acquisition of additional inventory