Armed Forces Sumpus began July 2021 with 100 stoves that cost 510 each. During the month, the compeny mode the following purchases at cost III (Cick the icon to vew the purchases) The company sold 331 stoves, and at July 31 , the onding inventory conssied of 49 stowes. The sales pnce of each stove was 349 peod the tegurements Requirement 1. Delermine the cost of goods sold and ending inventory amounts for July under the whorage-cost, FIFO, and LFO costing methods Round the average cost per unit to cound as other amounts to the searest dollis Data table Requirements 1. Determme the cost of goods sold and ending irventory amounts for July under the averago-cost. FFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollat 2. Explain wiy cost of goods sold is highest under LIFO Be specific 3. Propare the Amed Forces Suplus income statement for fuly. Report gress protit Operating expenses lotuled $4,000. The compary uses average costing for inventory The income tax rate is 224