Data Table March 6 90 stoves @ 100 stoves @ 30 stoves @ $20 = $25 = $30 = $ 1,800 2,500 900 Print Print [ Done Done Army - Navy Surplus began March 2018 with 80 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 232 stoves, and at March 31, the ending inventory consisted of 68 stoves. The sales price of each stove was $51 Read the requirements. Requirement 1. Determine the cost of goods sold and ending inventory amounts for March 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. Number of units Average cost FIFO LIFO Cost of goods sold Ending inventory N N N Requirement 2. Explain wny cost of goods sold is highest under LIFO. Be specitic. v and LIFO assigns the Under LIFO the cost of goods sold is the highest because costs are v to cost of goods sold. Requirement 3. Prepare Army - Navy Surplus' income statement for March. Report gross profit. Operating expenses totaled $3,750. The company uses average costing for inventory. The income tax rate is 30%. (Round income tax expense to the nearest whole dollar.) Army-Navy Surplus Income Statement Month Ended March 31, 2018 Not income