Some of the information found on a detailed inventory card for Monty Stationery Ltd. for May is as follows: From the above data, calculate the ending inventory based on each of the following cost formulas. Assume that perpetual inventory records are kept in units only and average cost is calculated monthly at each month end. (Round intermediate calculations to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275.) Calculate the gross profit percentage under each inventory cost formula. (Round answers to 1 decimal place, e.g. 527.5.) Assume the perpetual inventory record is kept in dollars, and costs are calculated at the time of each withdrawal. Recalculate the amounts under this revised assumption. (Round average unit costs to 4 decimal places, e.g. 52.7521 and final answers to 2 decimal places, e.g. 52.75.) eTextbook and Media Would the ending inventory amounts under each of the two cost formulas above be the same? Based on your results in part (a), and assuming that the average selling price per unit during May was $7.25, prepare partial income statements up to the "gross profit on sales" line. (Round answers to 0 decimal places, e.g. 5,275.) FIFO $ $ $ Weighted Average $ $