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 MusicCity specializes in sound equipment. Company records indicate the following data for a line of spea (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the amounts that MusicCity should report for cost of goods sold and ending in a. Using the FIFO method, the cost of goods sold is $ and the ending inventory is $ Data Table Date Item Quantity Unit Cost Sale Price Mar 15 $ 52 1 Balance 2 Purchase 6 64 7 Sale 7 $ 117 13 Sale.. 4 98 Print Done for a line of speakers: - sold and ending inventory two ways: a. FIFO and b. LIFO. (MusicCity uses a perpetual inventory system.) ntory is $ - X Requirements Price 1. Determine the amounts that MusicCity should report for cost of goods sold and ending inventory two ways: (MusicCity uses a perpetual inventory system) a. FIFO b. LIFO 2. MusicCity uses the FIFO method. Prepare the company's income statement for the month ended March 31, 2018, reporting gross profit Operating expenses totaled $340, and the income tax rate was 30%. 117 98 Print Done