FR World begon October with merchandise vertory of 65 crates of vitamins that cont a total of 53,895. During the month, Fat World purchased and told merchandise on court follows Click the icon to view the transactions) Read the Requirement. Prepare a perpetual inventory record, Ung the FIFO nventory conting nehod, and determine the companys del of goods sold endnu merchandise vertory, and gross profe Begin by coming the cost of goods sold and cost of ending merchandise Inventory using the FIFO inventory coating method Enter the transactions in chronological order, calculating new inventory on hand balances Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, soldid on hand at the end of the period. (Erodestory layers Purchases Cost of Goods Sold Inventory on Hand Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Oct 1 00 11000 13 18 170 00 15300 26 Yota STO 20000 - > nd at ento Hate Data table otal Oct. 5 Purchase Cost Oct. 13 Sale 145 crates @ $80 each 160 crates @ $110 each 170 crates @ $90 each 175 crates @ $118 each Oct. 18 Purchase Oct. 26 Sale FO Requirements char record 1. Sood 2. Unit Post 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? 3. 4. Print Done