1 TURU " 1. The CEO hos asked you to help her decide whether to use LIFO OF FIFO for inventory costing. Compute the gross prontamed by the company for both LIFO and FIFO, 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year of income taxes are based on a percentage of net income, which method would you recommend to the CEO? Complete this question by entering your answers in the tabs below. weanesday inursday Friday Saturday 1 2 N Purchase 100 units $50 each 6 8 Sunday Monday Tuesday wednesday Legend No Purchases or Sales | Purchases Sales 3 4 6 Purchase 400 units $55 each 10 11 12 13 7 8 9 Sales 420 units $85 each 14 15 16 10 11 12 13 17 18 19 20 Purchase 120 units 560 each) 25 27 Purchase 200 units $62 each 27 28 29 30 Sales 160 units $95 each