how would I solve the 3 requirements? they are set up like number 1.

Surchases.) and at October 31, the ending inventory consisted of 68 stoves. The sales price of each stove was $55. x to e ad Requirements bel 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. 2. Explain why cost of goods sold is highest under LIFO. Be specific 3. Prepare the Armed Forces Surplus income statement for October. Report gross profit. Operating expenses totaled $3,000. The company uses average costing for inventory. The income tax rate is 40%. Print Done is Clear All DemoDocs Example Get More Help A MacBook Pro Armed Forces Surplus began October 2018 with 80 stoves that cost $10 each. During the month, the company made the following purchases at cost Click the icon to view the purchases.) The company sold 292 stoves, and at October 31, the ending Inventory consisted of 68 stoves. The sales price of each stove was $55. Read the requirements Requirement 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. Number of units Average cost Cost of goods sold 292 Ending inventory 68 s sold and ending inventory amounts for October under the average-cost. FIFO ar X Data Table October 6 100 stoves @ $13 = $ 1,300 18 1,800 120 stoves @ $15 = 60 stoves @ $25 = 26 1,500 Print Done