6-32A (similar to) Futuristic Electronic Center began December with 80 units of merchandise inventory that cost $80 each. During December, the store made the following purchases: (Click the icon to view the purchases.) Futuristic uses the periodic inventory system, and the physical count at December 31 indicates that 85 units of merchandise inventory are on hand Read the requirements. Requirements FIFO, LIFO, and weighte Requirement 1. Determine the ending merchand costing methods. Determine the ending merchandise inventory and cost of goods sold amounts for the December financial statements using the FIFO,LIFO, and weighted-average inventory costing methods. 1. FIFO Ending inventory 2. Sales revenue for December totaled $25,000. Compute Futuristic's gross profit for December using each method. Enter any number in the edit fields and then cl 3. Which method will result in the lowest income taxes for Futuristic? Why? Which method will result in the highest net income for Futuristic? Why? Che parts remaining O Type here to search 8 i Data Table Dec. 3 20 units@ $ 82 each 12 30 units @ $ 87 each 18 45 units@ $ 90 each Print Done wer. Clear All PACKARD