Homework: Chapter 6 Graded Homework Save Score: 0 of 3 pts 4 of 10 (2 complete) HW Score: 13.43%, 3.36 of 25 pts E6-20A (similar to) Question Help MusicWorld specializes in sound equipment Company records indicate the following data for a line of speakers: (Click the icon to view the data.) Read the requirements Requirement 1. Determine the amounts that MusicWorld should report for cost of goods sold and ending inventory two ways: a. FIFO and b.LIFO. (MusicWorld uses a perpetual inventory system.) a. Using the FIFO method, the cost of goods sold is $ and the ending inventory is $ Data Table - X Requirements Date Item Quantity Unit Cost Sale Price Mar 1 Balance 15 $ 29 2 Purchase 3 49 7 Sale 7 $ 113 13 Sale 111 1. Determine the amounts that MusicWorld should report for cost of goods sold and ending inventory two ways: (MusicWorld uses a perpetual inventory system.) a. FIFO b. LIFO 2. MusicWorld uses the FIFO method. Prepare the company's income statement for the month ended March 31, 2018, reporting gross profit. Operating expenses totaled $290, and the income tax rate was 35% Print Done Print Done Enter any number in the edit fields and then click Check Answer. parts remaining Clear All Check