ADOS UM! YOUTUBE Gm Accounting for Business Decisions Homework: Week 8 homework (2 marks) Score: 0 of 1 pt 2 of 3 (0 complete) Exercise 6-9 (book) Assume that a JB Hi-Fi store completed the following perpetual inventory transactions for a line of DVDs: (Click the icon to view the inventory information) Requirements 1. Calculate cost of sales and gross profit under FIFO. 2. Calculate cost of sales and gross profit using LIFO. 3 Calculate cost of sales and gross profit using average cost. (Round average cost per unit to the nearest cent and all other amounts to the nearest dollar) Which method results in the largest gross profit and why? Requirements 1, 2, and 3. Calculate cost of sales and gross profit using FIFO, LIFO, and average-cost methods. Inventory information FIFO Sales revenue Beginning inventory 65 Cost of sales 16 DVDs @ $ 10 DVDs @ $ 12 DVDs @ $ 78 Purchase Sale Gross Profit 90 Print Done Enter any number in the edit fields and then click Check Answer. Clear All 3 parts remaining 23 MacBook Pro