Futuristic Electronic Center began July with 65 units of merchandise inventory that cost $82 each During July, the store made the following purchases (Click the icon to view the purchases.) Futuristic uses the periodic inventory system, and the physical count at July 31 indicates that 80 units of merchandise inventory are on hand Read the requirements Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the July financial statements using the FIFO, LIFO, and weighted average inventory costing methods Ending inventory Cost of goods sold FIFO LIFO Weighted-average 7.410 6.680 7.040 6.230 6.960 6.600 Requirement 2. Sales revenue for July totaled $27,000 Compute Futuristic's gross profit for July using each method. Gross profit FIFO Cost LIFO Cost Weighted-average