Exercise Gym began January with merchandise inventory of 90 crates of vitamins that cost a total of $5,850. During the month Exercise Gym purchased and sold merchandise on account as follows: Cick the icon to view the trading) Read the AMANA Requirement 1. Prepare A hal inventory card using the FIFO inventory boating method and determine the company cast of goods soklending marchandisinventory and goes profit Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventary costing method. 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 anst of marchandise inventory purchased sold and on hand at the end of the period (Fnter the oldest inventory layers first) Purchase Cost of Goods Sold Inventory on Hand Dute Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Cost i Datalable 130 750 980 Jan 5 Purchase 13 Sale 18 Purchase 130 140 @ 170 crates @ 180 crates $ $ $ 76 each 95 each 6 cach 100 each 170| 0 14620 Print Donc Totals 200 _245001 Determine the company's gres profit using the FIFO inventory casing method Gruss 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, and gross profil 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 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 merchandise inventory purchased, sold, and un hand at the end of the period. (Enter the oldest inventory layers first) Purchases Cost of Goods Sold Inventory on Hand Total Data Table Quantity Cost Cost Quantity Cost Cost Quantity Jan 5 Purchase 13 Sale 18 Purchase 26 Sala 130 Crates $ 140 crales @ 5 170 crates @ $ 180 CARR $ 76 Arch 56 wach 86 cach 100 ARCH Print Done Total Determine the company's gross proit using the LIFO inventory costing method Grozs profities using the LIFO inventory costing method