Armed Forces Surplus began March 2021 with 80 stoves that cost $20 each. During the month, the company made the following purchase (Click the icon to view the purchases.) The company sold was $50. Read the requirem Requirements Requirement 1.0 two decimal place: Cost of goods sold Ending inventory 1. Determine the cost of goods sold and ending Inventory amounts for March under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. 2. Explain why cost of goods sold is highest under Litat Be specific. 3. Prepare the Armed Forces Surplus income statement for March. Report gross profit. Operating expenses totaled $3,500. The company uses average costing for inventory. The income tax rate is 32%. Armed Forces Surplus began March 2021 with 80 stoves that cost $20 each. During the month, the company made the following purchase (Click the icon to view the purchases.) The company sold was $50. Read the requirem Requirements Requirement 1.0 two decimal place: Cost of goods sold Ending inventory 1. Determine the cost of goods sold and ending Inventory amounts for March under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. 2. Explain why cost of goods sold is highest under Litat Be specific. 3. Prepare the Armed Forces Surplus income statement for March. Report gross profit. Operating expenses totaled $3,500. The company uses average costing for inventory. The income tax rate is 32%