Fit Word began May with merchandise inventory of 80 crates of vitamins that cost a total of $3,000. During the month, FR World purchased and told merchandise on account at follows: m (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 Begin by computing the cost of goods sold and cost of ending merchandise ewentory using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand be Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest in Purchases Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Date Quantity May 1 5 Inventory on Hand Unit Total Quantity Cost Cost 30 45 3600 80 48 3600 120 58 6960 40 58 23290 120 58 0900 Data Table 13 80 45 3000 58 4640 80 18 130 72 9000 40 23290 9360 130 May 5 Purchase May 13 Sale May 18 Purchase May 26 Sale 120 crates $55 each 130 crates @ 510 each 130crates $72 each 1405114 each 72 28 72 3.300 30 72 130 100 B3 Totals Print Done Determine the company's gross profit using the FIFO inventory costing method Gis asing the FIFO invertor costing method Enter any number in the edities and then continue to the next question World began May with merchandise inventory of res of that of 3.000 During the more F World purchased and so die ontolow Cica con to view the transaction) Determine the company's gross profiting FIFO evento como Crossro wing the FIFO entory costing hot Requirement 2. Prepare a perpetual inventory recording the LIFO rycosting method, and in the company's cost of goods sonding methodolory, and group Begin by computing the cost of goods sold and cont ofending merchandiserang The UFO invertory ting method. Er the concordat un inventory on and water cochon Once all of the transactions have been entered into the perpetual record the guy and cool merchandise try sold, and on and of the end of the period the worlap Purchases Cost of Goods Soid Inventory on Hand Unit Total Un Total Unit Date Quantity Cost Cost Cost Coat Quantity Cast Coat Data Table May 1 12 May & Purchase May 13 Sale May 18 Purchase May 26 Sale 1200 130 Stoch 13072 140 3114 sch 18 20 Done Total Enter any number in the edities and then continue to the next Question JOUR Requirement 3. Prepare a perpetual inventory record, using the weighted average Inventory costing method, and determine the company's cost of good oldanding merchandise inventory and gross proft Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted average Inventory conting method. Enter the transactions in chronological order, calling new inventory on and he transaction. Once will of the transactions have been entered into the perpetual record, calculate the quantity and total cost of marchandise Inventory Burchased, sol, and on and at the end of the period. Houd de the nearest cient and other amounts to the nearest dollar) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cout Cost May 1 Date Table Unit 13 18 26 Mays Purchase 120 crassach May 13 130 cra3104 May 18 Purchase 172 May 26 Sale 15110 ch Totale Determine the company's gross profit using the weighed average Inventory couting method Done Gros profis using the weighted average inventory costing method Requirement 4. If the business wanted to pay the least amount of income tax possible, which method would choose? of the bus wanted to pay the least amount of income taxes possible, they would choose Enter any number in the edin fields and then continue to the next