Assume a liger Sports outlet store began October 2016 with 46 pairs of running shoes that cost the store $34 each. The sale pnce of these shoes was $70. During October, the store completed these inventory transactions: (Click the icon to view the inventory transactions.) Requirements 1. The preceding data are taken from the store's perpetual inventory records. Which cost method does the store use? Explain how you arrived at your answer. 2. Determine the store's cost of goods sold for October. Also compute gross profit for October. 3. What is the cost of the store's October 31 inventory of running shoes? Requirement 1. The preceding data are taken from the store's perpetual inventory records. Which cost method does the store use? Explain how you arrived at your answer. Tiger Sports uses which came from the This is apparent from the flow of costs out of inventory. For example, the October 13 sale shows unit cost of This is how works. Requirement 2. Determine the store's cost of goods sold for October. Also compute gross profit for October. The cost of goods sold is $ . The gross profit for October is O . Requirement 3. What is the cost of the store's October 31 inventory of running shoes? Assume a Tiger Sports outlet store began October 2016 with 46 pairs of running shoes that cost the store $34 each. The sale price of these shoes was $70. During October, the store completed these inventory transactions: (Click the icon to view the inventory transactions.) Requirements 1. The preceding data are taken from the store's perpetual inventory records. Which cost method does the store use? Explain how you arrived at your answer. 2. Determine the store's cost of goods sold for October. Also compute gross profit for October. 3. What is the cost of the store's October 31 inventory of running shoes? requirement I. The preceumy udla ale Lane TOMT I SWIU perpetuai Vemory Tucurus. VVITICIT CUSU memvu uves me Suore user capiam now you arrive at your answer. Tiger Sports uses V, which came from the This is apparent from the flow of costs out of inventory. For example, the October 13 sale shows unit cost of This is how works. Requirement 2. Determine the store's cost of goods sold for October. Also compute gross profit for October. The cost of goods sold is $ . The gross profit for October is $0 . Requirement 3. What is the cost of the store's October 31 inventory of running shoes? The cost of the company's inventory at October 31 is $ . Data Table Oct 2 Sale ............ 9 Purchase ...... Units 18 78 Unit Cost Unit Sale Price $ 34 $ 70 36 13 Sale ........... 18 Sale ......... 22 Sale ............ 29 Purchase ..... Print | Done ]