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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory $1,001 Mar. 14 Purchased July 30 Purchased

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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory $1,001 Mar. 14 Purchased July 30 Purchased Units available for sale 77 units @$13.00 260 units $14.00 = 510 units @$15.00 847 units 3,640 " 7,650 Cost of goods available for sale $12,291 Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit: Jan. 10 71 units Mar. 15 190 units Oct. 5 460 units Totals 721 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

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