Fit World began October with merchandise inventory of 90 crates of vitamins that cost a total of $5,850. During the month, Fit World purchased and sold merchandise on account as follows:

Oct. 5 Purchase 130 crates @ $76 each

13 Sale 140 crates @ $96 each

18 Purchase 170 crates @ $86 each

26 Sale 180 crates @ $112 each

Requirements:

1.	Prepare a perpetual inventory record, using the FIFO inventory costingmethod, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit.
2.	Prepare a perpetual inventory record, using the LIFO inventory costingmethod, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit.
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. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.)
4.	If the business wanted to pay the least amount of income taxes possible, which method would it choose?