Fit Gym began January with merchandise inventory of $78$ crates of vitamins that cost a total of $$4,290.$ During the month, Fit Gym purchased and sold merchandise on account as follows:

$($Click the icon to view the transactions.$)$

Read the requirements.

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.

sold, and on hand at the end of the period. $($Enter the oldest inventory layers first.$)$

Requirements

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.

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.

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. $($Round weighted$-$average cost per

unit to the nearest cent and all other amounts to the nearest dollar.$)$

If the business wanted to pay the least amount of income taxes possible,

which method would it choose?

Data table