Problem $6-7$A Gross profit comparisons and cost flow assumptions$-$perpetual LO$2,3$

Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December $31,2023.$

$\backslash$table$[[$Beginning Inventory,,,$],[286,$units,@$$85/$unit$],[$March $10,$purchased,$216,$units,@ $$89/$unit$],[$March$,$sold,$375,$units,@$$179/$unit$],[$May$,$purchased,$305,$units,@ $$82/$unit$],[$August$,$purchased,$260,$units,@$$73/$unit$],[$September $10,$sold,$556,$units,@$$179/$unit$]]$

Ontario Skateboard Company employs a perpetual inventory system.

Required:

Calculate the dollar value of ending inventory and cost of goods sold using: $($Do not round intermediate calculations. Round the final answers to $2$ decimal places. Round all weighted average unit costs to two decimal places.$)$

$\backslash$table$[[,,$Ending Inventory,Cost of Goods Sold$],[$a$.,$FIFO,,$],[$b$.,$Moving weighted average,,$]]$

Using your calculations from Part $1,$ complete the following schedule: $($Do not round intermediate calculations. Round the final answers to $2$ decimal places. Round all weighted average unit costs to two decimal places.$)$

$\backslash$table$[[,$FIFO,$\backslash$table$[[$Moving Weighted$],[$Average$]]],[$Sales$,,],[$Cost of goods sold,,$],[$Gross profit,,$]]$