Suppose a Johnson store in Ottawa, Ontario, ended April 2020 with 500,000 units of merchandise that cost an average of $10 each. Suppose the store then sold 450,000 units for $4.9 million during May. Further, assume the store made two large purchases during May as follows: Required 1. At May 31 , the store manager needs to know the store's gross profit under both FIFO and weighted-average cost. Supply this information. Johnson uses the periodic inventory system. 2. What caused the FIFO and weighted-average cost gross profit figures to differ? Requirement 1. At May 31, the store manager needs to know the store's gross profit under both FIFO and weighted-average cost. Supply this information. Johnson uses the periodic inventory system. (Round all calculations to one decimal place.) Requirement 2. What caused the FIFO and weighted-average cost gross profit figures to differ? Gross profit under FIFO and weighted-average cost differ because inventory costs during the period