25th Century Electronic Center began July with 60 units of merchandise inventory that cost $68 each. During July, the store made the following purchases:

25th Century uses the periodic inventory system, and the physical count at July 31 indicates that 90 units of merchandise inventory are on hand.

re on hand. the FIFO, LIFO, and weighted-average inventory costing methods. i Data Table Jul. 3 40 units @ 72 each 12 50 units 90 each 18 30 units @ S 92 each Print Done Check Answer P6A-32A (similar to) Question Help 25th Century Electronic Center began July with 60 units of merchandise invenbory that cost $68 each. During July, the store made the folowing purchases: ff (Cick the loon to view the purchases.) 25th Century uses the periodic inventory system and the physical count at July 31 indicates that 90 units of merchandise inventory are on hand Read the requirements Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the July financial statements using the FIFO, LIFO, and weighted-average inventory costing methods FIFO Ending inventory Cost of goods sold Requirements . Determine the ending merchandise inventory and cost of goods sold amounts for the July financial statements using the FIFO, LIFO, and weighted-average 2. Sales revenue for July totaled $22,000. Compute 25th Century's gross profit 3. Which method will result in the lowest income taxes for 25th Century? Why? inventory costing methods for July using each method Which method will resuit in the highest net income for 25th Century? Why? Print Done Enter any number in the edit fields and then click Check Answer Clear Al Check