$ * Data Table - X Hardware, Inc., completed the following inventory transactions du (Click the icon to view the transactions.) Read the requirements Date Item Quantity Unit Cost 105 90 Requirement 1. Without resorting to calculations, determine whid Mar 1 Balance income taxes 4 Purchase 50 $ 87 inventory prices, as is the case here, the 12 Sale 52 In times of income taxe est 3715 84 22 Purchase 31 Sale 24 Requireme decreasing etual inventory record using FIF Start by ent constant nventory balances. Enter the tran balances al Once all of the transactions have cost of inve increasing and on hand at the end of the costing first. For inventory on hand, enter the oldest inventory layl Purchases Cost of goods sold Print Done btal Inventory on hand Ta Enter any number in the edit fields and then continue to the next question Hardware, Inc., completed the following inventory transactions during the month of March: (Click the icon to view the transactions.) Read the requirements Requirement 1. Without resorting to calculations, determine which inventory method will result in Hardware, Inc., paying the lowest income taxes In times of inventory prices, as is thelcase here, the method will result in Hardware, Inc., paying the lowest income taxes Requirement 2. Prepare a perpetual inventory record using FIFO. FIFO Start by entering the beginning inventory balances. Enter the trans LIFO il order, calculating new inventory on hand balances after each transaction. Once all of the transactions have perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the pe average cost s sold, enter the first layer out under FIFO costing first. For inventory on hand, enter the oldest inventory layer Tirst.) Purchases Cost of goods sold Inventory on hand T Ille Tat Enter any number in the edit fields and then continue to the next question Hardware, Inc., completed the following inventory transactions during the month of March: Click the icon to view the transactions.) Read the requirements our worrowmory For Wory wywo Purchases Unit Total Cost of goods sold Unit Total Inventory on hand Unit Total Qty Cost Cost Date Qty Cost Cost Qty Cost Cost Mar 1 Mar 4 Mar 12 Mar 22 Enter any number in the edit fields and then continue to the next question Hardware, Inc., completed the following inventory transactions during the month of March (Click the icon to view the transactions.) Read the requirements Mar 12 Mar 22 Mar 31 Total Requirement 3. Prepare a perpetual inventory record using LIFO. Start by entering the opening inventory balance. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of Enter any number in the edit fields and then continue to the next question Hardware, Inc., completed the following inventory transactions during the month of March Click the icon to view the transactions.) Read the requirements Purchases Unit Total Cost of goods sold Unit Total Qty Cost Cost Inventory on hand Unit Total Qty Cost Cost Qty Cost Cost Date Mar 1 Mar 4 Mar 12 Mar 22 Enter any number in the edit fields and then continue to the next question Hardware, Inc., completed the following inventory transactions during the month of March: (Click the icon to view the transactions) Read the requirements Mar 22 Mar 31 Total Requirement 4. Prepare a perpetual inventory record using average cost. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar. D. Start by entering the opening inventory balance. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Round average cost per unit to the nearest cent and all other amounts to the nearest dollar) Enter any number in the edit fields and then continue to the next question Hardware, Inc., completed the following inventory transactions during the month of March: E (Click the icon to view the transactions) Read the requirements. Purchases Inventory on hand Unit Total Unit Cost of goods sold Unit Total Qty Cost Cost Total Date Qty Cost Cost Qty Cost Cost Mar 1 Mar 4 Mar 12 Mar 22 LA Mar 31 Total Enter any number in the edit fields and then continue to the next