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P6-32A (similar to) Tomorrows Electronic Center began October with 30 units of merchandise inventory that cost $30 each. During October, the store made the following purchases: B Click the icon to view the purchases.) Tomorrows uses the periodic inventory system, and the physical count at October 31 indicates that 85 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 October financial statements using the FIFO. LIFO and weighted average inventory costing methods. FIFO - Ending inventory Cost of goods sold Requirements - X Data Table - X 1. Determine the ending merchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighted average inventory costing methods. 2. Sales revenue for October totaled $27.000. Compute Tomorrows's gross profit for October using each method. 3. Which method will result in the lowest income taxes for Tomorrows? Why? Which method will result in the highest net income for Tomorrows? Why? Oct. 3 20 units @ $ 30 units @ $ 45 units @ $ 82 each 87 each 12 Print Done 18 90 each Print Done