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-Buy Aircraft sells a wide variety of model aircrafts and uses a perpetual inventory system....

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-Buy Aircraft sells a wide variety of model aircrafts and uses a perpetual inventory system. On June 1 -Buy Aircraft had five Cessna 560 model airplanes on hand at a unit cost of $105.00. During June and ly, the company had the following purchases and sales for this airplane (all for cash): Purchases Sales Units Unit Cost Units Unit Price une 4 2 $210.00 June 4 2 $210.00 18 5 $115 30 6 235.00 July 5 5 120.00 12 3 255.00 25 2 255.00 Determine the cost of goods sold and ending inventory under a perpetual inventory system using (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal places, e.g. 52.75.) FIFO Weighted average Cost of goods sold $ $ ot FIFO Weighted average Cost of goods sold $ $ Ending inventory ta $ Calculate gross profit using (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal places, e.g. 52.75.) FIFO Weighted average Gross profit ta $ $

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