Problem 6-7A Gross profit comparisons and cost flow assumptionsperpetual LO2, 3 Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020.

Beginning Inventory				310	units	@	$	87/unit
March	10	purchased		229	units	@	$	90/unit
March	20	sold		401	units	@	$	173/unit
May	13	purchased		299	units	@	$	83/unit
August	5	purchased		286	units	@	$	76/unit
September	10	sold		520	units	@	$	173/unit

Ontario 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 weighted average all unit costs to two decimal places.)

a. FIFO Ending Inventory Cost of Goods sold

b. Moving weighted average Ending Inventory Cost of goods sold

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 weighted average all unit costs to two decimal places.)

Sales FIFO Moving weighted average

Cost of Goods sold FIFO Moving Weighted Average

Gross Profit FIFO Moving Weighted Average