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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 3e Purchased Units available

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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 3e Purchased Units available for sale 81 units @ $13.00 - $1,953 282 units @ $14.00 = 3,92 530 units @ $15.ee = 7,950 891 units Cost of goods available for sale $12,923 Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit: Jan. 10 73 units Mar. 15 218 units Oct. 5 480 units Totals 763 units Requlred: The business uses a perpetual Inventory system. 1. Determine the costs that should be assigned to the ending Inventory and to goods sold under the following methods. (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO Moving weighted average 2. Also calculate the gross profit under each method. (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Gross Profit a. FIFO b. Moving weighted average

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