E CH6-HW Inventory Question 3 of 5 -/10 E View Policies Current Attempt in Progress Waterway Store uses a perpetual inventory system. Last year they reported the following results: Sales $1.050.000 Sales returns $34,000 Sales discounts $52,000 32 % Gross profit margin using FIFO Gross profit margin using weighted average Operating expenses 3396 $257.480 nants for both cest formulas Question 3 of 5 - / 10 TH Question List Question Question 2 Viening Question Gross Profit Question 4 $ Questions Are prices rising or falling? O G RI Type here to search CH6HW Inventory Question 3 of 5 -/10 III Question List Question : Question 2 Are prices rising or falling? Viewing Question Prices are Question 4 Question Indicate, by using lower for higher and same, how.comparatively the following income statement and balance sheets amounts will be impacted by the choice of inventory cost formula during a time of railing prices FIFO Weighted average costof goods sold CH6 HW Inventory Question 3 of 5 -7 10 Question List Indicate, by using lower, for higher, and same, how, comparatively, the following income statement and balance sheets amounts will be impacted by the choice of inventory cost formula during a time of falling prices. Question 1 Actie FIFO Weighted average Question 2 Neto Cost of goods sold Viewing Question Gross profit and profit Question 4 Ending inventory Owner's equity Questions > Cash flow - E CH6-HW Inventory Question 3 of 5 -/10 E View Policies Current Attempt in Progress Waterway Store uses a perpetual inventory system. Last year they reported the following results: Sales $1.050.000 Sales returns $34,000 Sales discounts $52,000 32 % Gross profit margin using FIFO Gross profit margin using weighted average Operating expenses 3396 $257.480 nants for both cest formulas Question 3 of 5 - / 10 TH Question List Question Question 2 Viening Question Gross Profit Question 4 $ Questions Are prices rising or falling? O G RI Type here to search CH6HW Inventory Question 3 of 5 -/10 III Question List Question : Question 2 Are prices rising or falling? Viewing Question Prices are Question 4 Question Indicate, by using lower for higher and same, how.comparatively the following income statement and balance sheets amounts will be impacted by the choice of inventory cost formula during a time of railing prices FIFO Weighted average costof goods sold CH6 HW Inventory Question 3 of 5 -7 10 Question List Indicate, by using lower, for higher, and same, how, comparatively, the following income statement and balance sheets amounts will be impacted by the choice of inventory cost formula during a time of falling prices. Question 1 Actie FIFO Weighted average Question 2 Neto Cost of goods sold Viewing Question Gross profit and profit Question 4 Ending inventory Owner's equity Questions > Cash flow