EXERCISE 1 PLEASE ANSWER BELoW) (17 points) de Dcor Fumiture began June with merchandise inventory of 45 solas that cost a total of $31.500. During the month, Madenm Dcor purchased and sold merchandise on account as follows: sofas e $750 each solas e 1.150 each 18Purchase 50 sofas 5775 each sofas Prepare a perpetual inventory record, using the FIFO inventory costing nethod, and determine the company'scost of goods sold for the month ending June 30, ending merchandise inventory as of June 30, and gross profit for the month ending jure 30 Purchases I Cost of Goods Sold I Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Tal Cost Cost Cost Cost Cost Cost 2 35 od, and determine the company's cost of goods sol (17 points) B) Prepare a for the month ending June 30, ending merchandise inventory as of June 30, and gross profit for the month g the LIFO inventory costing metho ending June 30. usin Purchases Cost of Goods Sold I Inventoryon Hamd Quant Unit lotal Quant Unit Total Quant Unit Total ate Cost Cost Cost CostCost Cost /2