Chapter ff Lab - 23F ,-Financial Question 4 of 9-Chapter 6 Lah Home / Cheng.com Chapter 6 Lab Question 4 of 9 -110 View Policies Current Attempt in Progress Ivanhoe Company uses a perpetual inventory system. The following information is provided for cost of goods sold and ending inventory under FIFO and weighted average. FIFO Weighted Average Cost of goods sold $6,840 $6,590 Ending inventory $1,160 $1,410 (a1) Assuming 1,000 units are sold for $15 per unit, and the product costs are decreasing, calculate gross profit under FIFO. Grossprofit $ eTextbook and Media