Jepson Electronic Center began October with 100 units of merchandise inventory that cost $8 each. During October, the store made the following purchases Click the icon to view the purchases) Japonunt the periodic inventory system, and the physical count at October 31 ndicates that 120 units of merchandise inventory are on hand. Read the green Requirement 1. Determine the ending marchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, UFO, and weighted-average inventory costing methods. FIFO Ending inventory Cont of goods and Requirements 1. Duterine the ending merchandise inventory and cost of pros sold amounts for the October financial statements using the FFO UFO, and ve oycotting methods 2. Sa revenue for October totaled 523,000. Compute Jepson's gross pro for October using each method 3. Which method will result in the lowest income for Jupont Why? Which method will result in the highest net income for epson? Why? 405 ch 60 ch Enter any number in the edities and then click Checker 5 parts Done maring Print Done X i Requirements 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 $23,000. Compute Jepson's gross profit for October using each method. 3. Which method will result in the lowest income taxes for Jepson? Why? Which method will result in the highest net income for Jepson? Why? Print Done Data Table Oct. 3 40 units @ $ 80 each 12 60 units @ $ 82 each 18 40 units @ $ 94 each Print Done