Urban Glam Cosmetics made purchases of lipstick in the current year as follows:

Jan. 1 Beginning inventory	113	units	@	$	13.00		=	$	1,469
Mar. 14 Purchased	440	units	@	$	14.00		=		6,160
July 30 Purchased	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.	5		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.)

2. Also calculate the gross profit under each method. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

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