Camp Surpius began July 2018 with 60 stoves that cost $10 each. During the month, the company made the following purchases at cost: (Click the icon to view the purchases.) The company sold 248 stovesand at July 31 , the ending inventory consisted of 52 stoves. The sales price of each stovewas $50. Read the requirements. Requirement 1. Determine the cost of goods sold and ending inventory amounts for July 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. Requirements 1. Determine the cost of goods sold and ending inventory amounts for July 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 LIFO. Be specific. 3. Prepare the Camp Surplus income statement for July. Report gross profit. Operating expenses totaled $5,200. The company uses average costing for inventory. The income tax rate is 30%. Data table