25th Century Electronic Cenerbegan October with 100 units of merchandise inventory that cost $70 each. During October, the store made the following purchases: ?(Click the icon to view the purchases.) 25th Century uses the periodic inventory system, and the physical count at October 31 indicates that 130 units of merchandise inventory are on hand Read the reguirements Requirement1. Determine the ending merchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighted-average inventory costing methods FIFO Ending inventory Cost of goods sold Data Table Requirements Oct 335 units S 82 each 12 45 units@ S 84 each 18 75 units $ 90 each 1. Determine the ending merchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighted-average inventory costing methods. 2. Sales revenue for October totaled $24,000. Compute 25th Century's gross profit for October using each method Print Done 3. Which method ill result in the lowest income taxes for 25th Century? Why? Which method will result in the highest net income for 25th Century? Why? Print Done