Data Table May 5 Purchase May 13 Sale May 18 Purchase 140 crates @ $87 each 160 crates @ $106 each 154 crates @ $91 each 200 crates @ $112 each May 26 Sale Print Done This Athlete began May with marchandise Inventory of 76 crates of vitamine that cost a total of $4,680. During the month, The Athlete purchased and sold merchandise on (Click the icon to view the transactions.) Read the regicamente Requirement 1. Prepare a perpetual inventory record, using the FIFO Inventory costing method, and determine the company's cost of goods sold, ending merchandise inver 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, Inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Total Purchases Unit Date Quantity Cost May 1 5 Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Cost 13 18 26 rotais Determine the company's gross profit using the FIFO inventory costing method Gross profit is using the FIFO inventory costing method Requirement 2. Prepare a perpetual inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, a Begin by computing the cost of goods sold and cost of ending merchandise inventory using the LIFO Inventory costing method Enter the transactions in chronological order, calcul Inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers Totals Determine the company's gross profit using the FIFO Inventory costing method. Gross profit is using the FIFO inventory costing method. Requirement 2. Prepare a perpetual Inventory record, using the LIFO Inventory costing method, and determine the company's cost of goods sold, ending merchar Begin by computing the cost of goods sold and cost of ending merchandise inventory using the LIFO inventory costing method. Enter the transactions in chronolog Inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first) Purchases Unit Quantity Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Date May 10 20 Total Determine e company's grous profit using the LIFO inventory costing method Gross protis using the LIFO inventory conng method Requirement 3. Prepare a perpolat inventory record, using the weighted average wventory costing method and determine the company's cost of goods sold ending Begin by computing the cost of goods sold and cost of ending merchandise inventory usng the weighted average inventory costing method Enter the transactions in a mercado inventory purchased. sold, and on hand at the end of the period (Rounded wwerapa cont par unt to the newest and other around to the Purchase Cost of Goods Sold Inventory on Hand Totals Determine the company's gross profit using the LIFO Inventory conting method. Gross profit is using the LIFO inventory costing method. Requirement 3. Prepare a perpetual Inventory record, using the weighted average Inventory costing method, and determine the company's cost of Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted average Inventory costing method. Enter merchandise Inventory purchased, sold, and on hand at the end of the period. (Round weighted average cost per unit to the nearest cent and all oth Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost May 1 5 13 18 26 Totals Determine the company's gross profit using the weighted-average inventory costing method. Gross profit using the weighted average inventory costing method, Requirement 4. the business wanted to pay the least amount of income taxes possible, which method would it choose? If the business wanted to pay the least amount of income taxes possible, they would choose Enter any number in the edit fields and then continue to the next