Jepson Electronic Center began October with 65 units of merchandise inventory that cost $82 each. During October, the store made the following purchases (Cick the lcon to view the purchases) Jepson uses the periodic inventory system, and the physical count at October 31 indicates that 80 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 fnancial statements using the FIFO, LiIFO, and weighted-average inventory costing methods FIFO LIFO Weighled-average Ending inventory Data Table Cost of goods sold Requirement 2. Sales revenue for October totaled $28,000. Compute Jepson's gross profit for October using each method Oct 3 25 units $ 90 each Weighted average FIFO Cost LIFO Cost 12 30 unts S 90 each Gross proft 18 35 units S 90 each Requirement 3. Which method will resut in the lowest income taxes for Jepson? Why? Which method will result in the highest net income for Jepeon? Why? method will resut in the lowest income taxes because under this method, company's gross proft is the The Print Done Which method will resut in the highest net income for Jepson? Why? The method will resuit in the highest net income because under this method, company's gross profit is the