March 1- Purchase 100 units $50 each

March 5- Purchase 400 units $55 each

March 9- Sales 420 units $85 each

March 18- Purchase 120 units $60 each

March 25- Purchase 25 units $62 each

March 29- Sales 160 units $95 each

ATV Co. began operations on March 1 and uses a periodic Inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Sunday Monday Tuesday Thursday Friday Saturday Legend No Purchases or Sales Purchases Sales 1 2 CO 4 3 8 5 6 7 9 11 10 12 13 14 16 15 24 25 26 27 28 29 30 31 tableau 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costi Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Complete this question by entering your answers in the tabs below. Required 1 Nequired Required) Cost of Goods of units The CEO has asked you to help her decide whether to use LIFO or Firo for inventory costing Compute the gross profit eamed by the company for both uro and Firo Periode FIFO Coat of Goode Available for Sale Cost of Goods Bold Ending Inventory Date of units of units Cost per unit Available for Cost of Goods Cost per unit Cost per sold Ending In ending Sale Sold unit Inventory inventory March 1 100 $ 50.00 5 5,000 100 $ 50.00 5.000 March 5 4001 s 55.00 22.000 March 10 12015 60.00 7,200 March 25 2000s 6200 12,400 Total 120 $ 46,600 100 5,000 0 Periodic LIFO Cost of Goods Sold Date of units sold Cost of Goods Cost per unit Sold Ending Inventory of units Cost per Ending in ending unit Inventory Inventory March 1 Cost of Goods Available for Sale Cost of Goods # of units Cost per unit Available for Sale 100 50.00 5 5,000 400 $ 5500 22.000 120$ 60.00 7.200 2005 82.00 12.400 820 $ 46,600 March 5 March 18 March 25 Total 0 $ 0 Gross Profit FIFO LIFO *+ableau 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing, Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? the CEO wishes to maximize her bonus, which of the following methods would you recommend? (Required 1 Required 3 > FIFO LIFO Weighted average tableau 1. The CEO has asked you to help her decide whether to use UFO or FIFO for inventory costing Compute the gross profit earned by the company for both LIFO and FIFO, 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? If income taxes are based on a percentage of net income, which method would you recommend to me CEOY