Homework: Chapter 6 Homework Score: 0 of 5 pts P6-29A (similar to) Fancyron began wh o has ench Dung A 0344 complete HW Score 49.784 of 10 pts Outono lte comprometed the wing intory actions Requirement 1. Prepare a pr i vertory record the merchandienetary using the FIFO Inventory costing method Start by entering the beginning inventory ces the store in chronological ander i ng w ater and w calculate the unity and cost of merchandietary he a d on and the end of the period the s e were tory layers action. Once ) of Cost of Goods Sold Date Quantity Cout Cost Quantity cost Caut Quantity Enter any brin d sthank Che Answer iring August, the company completed the following inventory transactions: ventory using the FIFO inventory costing method. chror Once all of the transactions ha i Data Table Total Cost Unit Cost Unit Sales Price AUS3 Sale 8 Purchase 21 Sale 30 Purchase Units 45 90 85 15 Print Done Clear All i Requirements all of the ti 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method. 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted average inventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods. 5. Compute gross profit for August using FIFO, LIFO, and weighted average inventory costing methods. 6. If the business wanted to maximize gross profit, which method would it select? Print Done Clear All