Problem 6-4BGross profit comparisons and cost flow assumptionsperpetual LO2, 3 CHECK FIGURES: 1. Ending inventory; a. $875; b. $960 The Mistry Company has the following sales, inventory, and purchases during the fiscal year ended December 31, 2023. Beginning inventory.......................................................................................... 180 units @ $30/unit Feb. 20 sold....................................................................................................... 145 units @ $40/unit Apr. 30 purchased............................................................................................. 315 units @ $29/unit Oct. 5 purchased................................................................................................ 225 units @ $25/unit Oct. 10 sold........................................................................................................ 540 units @ $40/unit Mistry Company uses a perpetual inventory system. Page 3 Required Calculate the dollar value of ending inventory and cost of goods sold using: FIFO Moving weighted average method. Round all unit costs to two decimal places. Using your calculations from Part 1, complete the following schedule: FIFO Moving Weighted Average Sales............................................................................................................................... Cost of goods sold........................................................................................................ Gross profit.................................................................................................................... Analysis Component: How would the gross profits calculated in Part 2 above change if Mistry Company had been experiencing increasing prices in the purchase of additional inventory?