Music School specializes in sound equipment Company records indicate the following data for a line of speakers Click the icon to viewed Read the Requirement 1. Determine the amounts that Music School should report for cost of goods sold and ending inventory Oway FIFO and B.LIFO. (Music Schools a perpetual inventory system) Using the Fifo method, the cost of goods sold is and the ending inventory tas - Data Table Date M 1 Balance 2 Purchase 7 Sale 13 Sale Quantity Unit Cost Price 14 50 2 6 113 93 Done Requirements 1. Determine the amounts that Musicschool should report for cost of goods sold and ending inventory two ways: (Music School uses a perpetual inventary System) FIFO . LIFO 2. Music School uses the FIFO method. Prepare the company's income statement for the month anded March 31, 2018, reporting gross profit Operating expenses totaled $260, and income tax rate was 35% Enter any number in the east fields and then click Check Answer Print Done remaining heck