Urban Glam Cosmetics made purchases of lipstick in the current year as follows. Jan. 1 Beginning inventory Mar. 14 Purchased July 30 Purchased 440 units $14.00 113 units $13.00 -$1,469 6,160 690 units $15.00 10,350 Units available for sale 1,243 units Cost of goods available for sale $17,979 Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit Jan. 10 89 units Mar 15 370 units Oct. 15 640 units Totals 1,099 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.) Cost of Goods Ending Inventory 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.) FIFO b Moving weighted average Gross Profit Next >