Music not to specializes in sound equipment. Because each inventory tom s exponsive, MuscB e a perpetunt inventory system.Company reconds and mother toong data for a few of the (Click the icon to view the data) Requirements 1. Determine the amounts that MusicBiz should report for cost of goods sold and ending inventory in the following two will a FIFO b. Weighted average cost 2. MusicBiz uses the FIFO method Prepare MusicBue's income statement for the month onded Rune 30, 2020, ceporting gross profit Operating expenses toled $310, and the income tax rate was 2575 3. MusicBiz is thinking of changing inventory conting methods from FIFO to weighted average cost Are they allowed to make this change? Briefly explain Data Table Requirement 1. Determine the amounts mat Munich should report for cost of goods sold and ending intory Ung Promoted the anding inventory and the cout of goods sold Quand cost Dale June 1 1 Balance Sale 10 Picha 305 11 100 Pran Done