Widget Tek's original accountant accepted a position with another firm and left in early March. You have been asked to review the subsidiary inventory ledger record for Widget Tek's main product for March. Inventory Date Total Cost Quantity 850 Mar. 1 $83,300 1,275 121,125 Mar. 8 Unit Cost $98.00 95.00 98.00 98.00 98.00 103.00 63,700 31,850 650 325 325 780 Mar. 11 Mar. 14 31,850 80,340 Mar. 22 260 98.00 25,480 Mar. 25 25,480 260 1,700 98.00 99.00 168,300 Study the inventory record for March and answer the questions that follow. 1. Assuming that the product sells for $150 and that 90% of sales are on account, determine the gross profit from sales for March. $ 2. Making the same assumptions as in (1), determine the ending inventory cost for March. $