Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 30 Purchased Units available for sale Cost of goods available for sale 75 units @ $12.00 - $ 900 250 units $13.00 3,250 500 units @ $14.00 7,000 825 units $11,150 Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit: Jan. 10 70 units Mar. 15 180 units Oct. 5 450 units Totals 700 units Required: 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 b. Moving weighted average Totals 700 units Required: 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 b. 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