Fly-Buy Aircraft sells a wide variety of model aircrafts and uses a perpetual inventory system. On June 1, Fly-Buy Aircraft had five Cessna 560 model airplanes on hand at a unit cost of $75.00. During...

Fly-Buy Aircraft sells a wide variety of model aircrafts and uses a perpetual inventory system. On June 1, Fly-Buy Aircraft had five Cessna 560 model airplanes on hand at a unit cost of $75.00. During June and July, the company had the following purchases and sales for this airplane (all for cash):

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.)

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.)