ATV Co. began operations on March 1 and uses a periodic inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Sunday Monday Tuesday Wednesday Thursday Friday Saturday Legend No Purchases or Sales Purchases Sales 1 2 3 4 5 6 7 00 8 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 tableau -> 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 W The CEO has asked you to help her decide whether to use LIFO or FIFO for Inventory costing, Compute the gross profit earned by the company for both L Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Date # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold Ending Inventory # of units in ending Cost per unit Ending inventory Inventory March 1 March Sunday Monday Tuesday Wednesday Thursday Friday Saturday Legend No Purchases or Sales Purchases Sales 1 2 Purchase 100 units $50 each 3 4 5 6 7 8 00 9 10 11 12 13 14 15 16 March Sunday Monday Tuesday Wednesday Thursday Friday Saturday Legend No Purchases or Sales Purchases Sales 2. 3 4 5 6 7. 00 9 Purchase 400 units $55 each 10 11 12 13 14 15 16 March Sunday Monday Tuesday Wednesday Thursday Friday Saturday Legend No Purchases or Sales Purchases Sales 1 N 3 4 5 6 7 8 00 9 Sales 420 units $85 each 10 11 12 13 14 15 16 10 11 12 13 14 15 16 17 18 20 21 22 23 Purchase 120 units $60 each 24 25 26 27 28 29 30 31 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2 0 26 27 28 29 30 Purchase 200 units $62 each 31 10 11 12 1.3 14 15 16 nces 17 18 19 20 21 22 23 24 25 26 27 28 s Sales 160 units $95 each 31