Some of the information found on a detailed inventory card for Blue Spruce Stationery Ltd. for May is as follows: Received Unit No. of Units Cost 990 $2.90 Issued No. of Units Balance No. of Units 990 Date May 1 (opening balance) 900 3.00 600 520 3.20 440 850 3.30 260 1,000 1,890 1,290 1,810 1,370 1,960 960 1,380 2,080 2,680 1,120 3.40 700 1,300 3.60 1,100 1,580 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 Sales $ Cost of Goods Sold Beginning Inventory 2871 Purchases Less : Ending Inventory 5632 Gross Profit/(Loss) v Weighted Average Sales $ Cost of Goods Sold Beginning Inventory 2871 Purchases Less : Ending Inventory Gross Profit/(Loss) v Calculate the gross profit percentage under each inventory cost formula. (Round answers to 1 decimal place, e.g. 527.5.) Gross Profit Percentage First-in, first-out (FIFO) Weighted average cost eTextbook and Media 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.) Ending Inventory First-in, first-out (FIFO) $ Moving average cost $