MusicCity specializes in sound equipment. Company records indicate the following data for a line of speakers: (Click the icon to view the data.) Read the requirements. Start by determining the amounts that MusicCity should report for cost of goods sold and ending inventory under a. FIFO. FIFO method cost of goods sold FIFO method ending inventory $ 520 $ 317 Determine the amounts that MusicCity should report for cost of goods sold and ending inventory under b. LIFO LIFO method cost of goods sold LIFO method ending inventory $ 577 $ 260 Requirement 2. MusicCity uses the FIFO method, Prepare the company's income statement for the month ended March 31, 2021, reporting gross profit. Operating expenses totaled $300, and the income tax rate was 30%. (Round answers to the nearest dollar) MusicCity Income Statement Month Ended March 31, 2021 Net income hat Mu Quld rec for cost O sold and Data table Date Item Quantity Unit Cost Sale Price Mar 1 Balance 12 $ 52 Mar 2 Purchase 3 71 Mar 7 Sale 6 69 $ 109 Mar 13 Sale 4 100 Print Done -