Fit world began May with merchandise inventory of $95$ crates of vitamins that cost a total of $3,800.$ During the month, Fit World purchased and sold merchandise on account as follows: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.$)$

Determine the company's gross profit using the FIFO inventory costing method.

Gross profit is $$ using the FIFO inventory costing method.

Data table $,-x$

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.

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

Determine the company's gross profit using the LIFO inventory costing method.

Gross profit is

using the LIFO inventory costing method.