Answer question 2 please!!

Exercise World began May with merchandise inventory of 95 crates of vitamins that cost a total of $3,300. During the month. Exercise World 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 profit. 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 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 hand at the end of the period. (Enter the oldest inventory layers first.) f merchandise inventory purchased, sold, and on Purchase Cost of Goods Sold Inventory on Hand Total Unit Total Unit Total Unit Cost Date Quantity Cost Quantity Cost Cost Quantity Cost Cost 95 $ 40 $ 3.800 May 1 51 1555 71 $ 11.005 95 s 155 S 40 $ 3.800 71 $ 11,005 71 $ 4,970 131 95 s 40 $ 3.800 70 S 85 $ 71 $ 6.035 1935 75 $ 14,475 70 S 71 $ 4,970 193 s 75 $ 14,475 26 70 S 71 s 4,970 63 | S 75$ 4,725 130 s 75 $ 9.750 $ 25,480 348 380 $ 24,555 Totals 4.725 $ 63 Determine the company's gross profit using the FIFO inventory costing method. Gross profit is $ 19,165 using the FIFO inventory costing method. merchandise inventory purchased, sold, and on 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 profit. 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 balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost hand at the end of the period. (Enter the oldest inventory layers first.) - X Purchases Cost of Goods Sold Inventory on Hand Requirements Unit Total Unit Total Unit Total Data Table Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Prepare a perpetual inventory record, using the FIFO inventory costing May May 5 Purchase 155 crates @ $71 each method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. May 13 Sale 180 crates $114 each Prepare a perpetual inventory record, using the LIFO inventory costing May 18 Purchase 193 crates $75 each method, and determine the company's cost of goods sold, ending 13 merchandise inventory, and gross profit. May 26 Sale 200 crates $116 each Prepare a perpetual inventory record, using the weighted average inventory costing method, and determine the company's cost of goods sold, ending 181 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, Print Done which method would it choose? 51 2 Print Done Totals Print Print Done