Allas Gym bogan May with merchandise inventory of 72 crates of vitamins that cost a total of $3,600. During the month Atlas Gym purchased and sold merchandise on account as follows (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross prof Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventory costing method Enter the transactions in chronological ander, calculating new inventory on hand balances after each transaction. Once all of the sansactions have been untered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period (Enter the oldest inventory layers first.) Cost of Goods Sold Purchases Unit Inventory on Hand Total Unit Total Unit Total Date May 1 Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Submit 404 PM my of 72 cr Requirements - X se on account as follows: ecord, usin cost of end ns have be 1. 2. 3. Co 4. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Prepare a perpetual inventory record, using the LIFO Inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Prepare a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar) If the business wanted to pay the least amount of income taxes possible, which method would it choose? ndise inventory, and gross profit ical order, calculating new inventory on ha chased, sold, and on hand at the end of the Quantity Print Done Data table May 5 Purchase 120 crates @ $78 each FO May 13 Sale 130 crates @ $110 each char May 18 Purchase red May 26 Sale 124 crates @ $90 each 130 crates @ $118 each ood nit ost Print Done -X ing merchandise inventory, and in chronological order, calculati ventory purchased, sold, and o (Click the icon to view the transactions.) Read the requirements. 13 18 26 072 des of Vitamins that cost a total of $3,600. During the month, Atlas Gym purchased and sold merchandise on account Totals Determine the company's gross profit using the FIFO inventory costing method Gross profit is using the FIFO Inventory costing method. Read the requirements Requirement 2. Prepare a perpetual inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross prot Begin by computing the cost of goods sold and cost of ending merchandise inventory using the LIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balanc after each transaction. Once all of the transactions have been entered into the perpetual record calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the und of the prod (Enter the eldest inventory layers first.) Cost of Goods Sold Purchases Unit Inventory on Hand Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost May 1 50 Atlas Gym began May with merchandise inventory of 72 crates of vitamins that cost a total of $3,600. During the month, Atlas Gym purchased and sold merchandise on account as follows (Click the icon to view the transactions.) Read the requirements 13 18 26 Totals Determine the company's gross profit using the LIFO inventory costing method Submit test Read the requirements Totals Determine the company's gross profit using the LIFO inventory costing method Gross profit is using the LIFO inventory costing method Requirement 3. Prepare a perpetual inventory record, using the weighted average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profe Begin by computing the cast of goods sold and cost of ending merchandise inventory using the weighted average inventory costing method Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of The period. (Round weighted average cost per unit to the nearest cont and all other amounts to the nearest dollar) Purchases Unit Cost of Goods Sold Total Unit Total Inventory on Hand Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Alas Gym began May with merchandise inventory of 72 crates of vitamins that cost a total of $3,600. During the moth Adas Gym purchased and schandise on accounta Click the icon to view the transactions.) Read the ent Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost May 1 3% 13 10 26 Totals Determine the company's gross profit using the weighted average inventory costing method using the weighted average inventory costing method 5 13 18 Totals 26 Determine the company's gross profit using the weighted-average inventory costing method Gross profit is Jusing the weighted-average inventory costing method. Requirement 4. If the business wanted to pay the least amount of income taxes possible, which method would it choose? If the business wanted to pay the least amount of income taxes possible, they would choose