4.

MusicMagie specializes in sound equipment Company records indicato the following data for a line of speakers: (Cick the icon to view the data.) Fead the resuireming Requirement 1. Determine the amounts that Musickagic should report for cost of goods cold and ending inventory two ways: a. FIFO and b. LIFO. (Musickagic uses a perpelual inventory syst Start by determining the amounts that MusicMagic should repoct for cost of goods sold and ending inventory under a. FiFO. FIFO method cost of goods sold = FFO method ending inventory = 1. Determine the amounts that MusicMagic should report for cost of goods sold and ending inventory two ways: (MusicMagic uses a perpetual inventory system.) a. FIFO b. LIFO 2. MusicMagic uses the FIFO method. Prepare the company's income statement for the month ended March 31,2021 , reporting gross profit. Operating expenses totaled $310, and the income tax rate was 40%. Data table