each Pinn Office Supplies distributes office furniture. The company's fiscal year ends on December 31, 2014. On September 30, 2014, one department in the company had in invertory 28 office suites that cost $1.00 (Click the icon to view the purchase and sale information) Required 1. Determine the cost of the department's ending inventory at December 31, 2014, under (a) weighted-average costing, and (b) FFO costing Assume the company uses the penodic inventory system and determines cost of goods sold at the end of each quarter 2. Prepare the department's income statement for the quarter ended December 31, 2014, under each method described in Requiment 1 Show gross margh and coating o Requirement 1. Determine the cost of the department's ending inventory at December 31, 2014, under (a) weighted average-costing, and FIFO couting Assume the company uses the perode inventory system and determines cost of goods sold at the end of each quarter (Use the cost per unit method when calculating your answer. Hold all decimals in interim calculations Round your final answers to the nearest whole dollar.) (a) The cost of the department's ending inventory at December 31, 2014, under weighted average is S (b) The cost of the department's ending inventory at December 31, 2014, under FIFO Requirement 2. Prepare the departments income statement for the quarter ended December 31, 2014, under each method described in Requirement 1 Show gross margin and operating ne Prepare the income statement under each method described in Requirement 1. Begin with weighted average, then FIFO (Round interim calculations to seven decimal places Round final answers the Time Remaining: 00:51:30 Next 153PM determines cost of goods sold at the end of each quarter. 1. Determine the cost of the department's ending inventory at December 31, 2014, under (a) weighted average-costing and b) FIFO costing Assume the company uses the periodic inventory system and 2. Prepare the department's income statement for the quarter ended December 31, 2014, under each method described in Requirement 1. Show gross margin and operating income (b) The cost of the department's ending inventory at December 31, 2014, under FIFO is $ Requirement 2. Prepare the department's income statement for the quarter ended December 31, 2014, under each method described in Requirement. 1. Show gross margin and operating income Prepare the income statement under each method described in Requirement 1. Begin with weighted average, then FIFO (Round interim calculations to seven decimal places Round final answers t nearest whole dollar.) Weighted Average FIFO