Microsoft Edge File Edit View History Favorites Tools Profiles Tab Window Homework: Chapter 6-Homework Help Do Homework - Chapter 6-Homework Question 6, PA-32A (similar to) Part 2 of 6 Jepson Electronic Center began July with 80 units of merchandise inventory that cost $80 each. During July, the store made the following purchases: (Click the icon to view the purchases.) Jepson uses the periodic inventory system, and the physical count at July 31 indicates that 85 units of merchandise inventory are on hand. Read the requirements. HW Score: 78.55%, 7.85 of 10 points > Points: 0 of 2 Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the July financial statements using the FIFO, LIFO, and weighted-average inventory costing methods. Ending inventory FIFO 7,480 LIFO Requirements Cost of goods sold 7,220 1. Determine the ending merchandise inventory and cost of goods sold amounts for the July financial statements using the FIFO, LIFO, and weighted-average inventory costing methods. Data table Thu Mar 10 8:18 PM Jul. 3 20 units @ $82 each 2. Sales revenue for July totaled $21,000. Compute Jepson's gross profit for July using each method. Jul. 12 30 units @ $87 each 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? Jul. 18 45 units @ $90 each Help me solve this Demodocs example Get more help - Print Done Print Done Save Clear all Check