A Swoosh Sports outlet store began December 2021 with 47 pairs of running shoes that cost the store $34 each. The sale price of these shoes was $63. During December, the store completed these inventory transactions: (Click the icon to view the inventory transactions.) Read the requirements. Requirement 1. The preceding data are taken from the store's perpetual inventory records. Which cost method does the store use? Explain how you arrived at your answer. Swoosh Sports uses This is apparent from the flow of costs out of inventory. For example, the December 13 sale shows unit cost of , which came from the This is how works. Requirement 2. Determine the store's cost of goods sold for December. Also compute gross The cost of goods sold is The gross profit for December is Requirement 3. What is the cost of the store's December 31 inventory of running shoes? The cost of the company's inventory at December 31 is Data table