Best Yet Electronic Center began October with 80 units of merchandise inventory that cost $80 each. During October, the store made the following purchases Click the icon to view the purchases.) Best Yet uses the periodic inventory system, and the physical count at October 31 indicates that 85 units of merchandise inventory are on hand. Read the requirements Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighted average inventory costing methods. FIFO LIFO Weighted-average Ending Inventory 7,480 6,810 7.140 Cost of goods sold 7,220 7.890 7,560 Requirement 2. Sales revenue for October totaled $30,000. Compute Best Yet's gross profit for October using each method. FIFO Cost LIFO Cost Weighted average Data Table Gross profit Oct. 3 Oct. 12 20 units @ $82 each 30 units @ $87 each 45 units @ $90 each Enter any number in the edit fields and then click Check Answer Oct. 18