MusicPlace specializes in sound equipment. Company records indicate the following data for a line of speakers: (Click the icon to view the data.) Start by determining the amounts that MusicPlace should report for cost of goods sold and ending inventory under a. FIFO. FIFO method cost of goods sold = FIFO method ending inventory = Determinie the amounts that MusicPlace should report for cost of goods sold and ending inventory under b. LIFO LIFO method cost of goods sold = LIFO method ending inventory was 30%. (Round answers to Requirement MusicPlace uses the FIFO method. Prepare the company's income statement for the month ended March 31, 2021, reporting gross profit. Operating expenses totaled $260, and the income tax the nearest dollar.) MusicPlace Income Statement Month Ended March 31, 2021 Net Income MusicPlace 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 MusicPlace should report for cost of Data table FIFO method cost of goods sold FIFO method ending Inventory Determine the amounts that Music Place should report for cost of goods sold Date Item Quantity Unit Cost Sale Price Mar 1 19 LIFO method cost of goods sold $ Balance Purchase 26 87 Mar 2 3 LIFO method ending Inventory = Mar 7 Sale $ 101 6 6 Requirement 2. MusicPlace uses the FIFO method. Prepare the company's the nearest dollar.) penses totaled S260, and the income tax rate was 30%. (Round answers to Mar 13 Sale 100 MusicPlace Income Statement Month Ended March 31, 2021 Print Done