Athletic World began January with merchandise inventory of 78 crates of vitamins that cost a total of $4,290. During the month, Athletic 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 of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Data Table Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jan. 1 Jan. 5 Purchase 156 crates @ $ 64 each 5 13 Sale 102 each 18 Purchase 180 crates @ $ 114 crates @ $ 150 crates @ $ 75 each 13 26 Sale 112 each Requirements 26 1. Enter any number in the ait fields and then click Check Answer. 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 2. parts Clear All 6 1. 2. 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? 3. 4. Print Done