2 of 12 cm Tomorrows Electronic Center began October with its of merchandise inventory that contoh During dicker the stormade the following our !!! (Click the icon to view the purchase) Tomorrow uses the periodic inventory system, and the physical count October 31 indicates that its of marcha tory weonhand Rond the requirements Requirement 1. Determine the onding merchandise inventory and cont of goods sold amounts for the Ocche financial teasing the FFO, UFO, and Weighted average FIFO LIFO Ending inventory Cost of goods sold FIFO Cost LIFO Cost Requirement 2. Sales revenue for October totaled $28,000. Compute Tomorrow's gross profit for October using each method. Weighted average Gross profit Requirement 3. Which method will result in the lowest income taxes for Tomorrow? Why? Which method will result in the highest net income for Tomorrow? Why? method will result in the lowest income taxes because under this method, company'n gross profit is the Which method will result in the highest net income for Tomorrowa? Why? minthod will result in the highest net income because under this method, company's grous peor in the The The Enter any number in the edit fields and then continue to the next question Tomorrows Electronic Center began October with 60 units of merchandise inventory that cost $68 e (Click the icon to view the purchases.) Tomorrows uses the periodic inventory system, and the physical count at October 31 indicates that Read the requirements. Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts fort FIFO LIFO Weighted average Ending inventory Cost of goods sold Requirement 2. Sales revenue for October totaled $28,000. Compute Tomorrows's gross profit for FIFO Cost LIFO Cost Weighted average Gross profit Requirement 3. Which method will result in the lowest income taxes for Tomorrows? Why? Which The method will result in the lowest income taxes because under this method, com Whic the highest net income for Tomorrows? Why? average-cost The I will result in the highest net income because under this method, comp LIFO FIFO Enter dit fields and then continue to the next question. ber with 60 units of merchandise inventory that cost $68 anch. During October, the store made the following purchases: =) ster, and the physical count at October 31 indicates that 90 units of merchandise inventory are on hand. archandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighted average inven LIFO Weighted-average totaled $28,000. Compute Tomorrows's gross profit for October using each method. LIFO Cost Weighted average the lowest income taxes for Tomorrows? Why? Which method will result in the highest net income for Tomorrows? Why? e lowest income taxes because under this method, company's gross profit is the ncome for Tomorrows? Why? highest highest net income because under this method, company's gross profit is the lowest en continue to the next question. i Data Table - X Hd Oct. 3 40 units @ $72 each TOV Oct. 12 50 units @ $90 each ave Oct. 18 30 units @ $92 each Orr Print Done del