Exercise Gym began with merchandise inventory of 80 crates of vitamins that cost a total of 3600. During the month, Exercise Gym purchased and sold merchandise on account as follows. Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventory costing method. Enter the transactions in chronologically. Find gross profit using the FIFO 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 profit. Find gross profit using the LIFO method. Requirement 3. Prepare a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Find gross profit using the Weighted Average method.

Additional info-

Jul. 5	Purchase	120 crates @ $58 each
Jul. 13	Sale	130 crates @ $110 each
Jul. 18	Purchase	130 crates @ $72 each
Jul. 26	Sale	140 crates @ $116 each