MusicSchool 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. Requirement 1. Determine the amounts that MusicSchool should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO. (MusicSchool uses a perpetual inventory system.) Start by determining the amounts that MusicSchool should report for cost of goods sold and ending inventory under a. FIFO. FIFO method cost of goods sold = FIFO method ending inventory = Data table Requirements 1. Determine the amounts that MusicSchool should report for cost of goods sold and ending inventory two ways: (MusicSchool uses a perpetual inventory system.) a. FIFO b. LIFO 2. MusicSchool uses the FIFO method. Prepare the company's income statement for the month ended March 31, 2021, reporting gross profit. Operating expenses totaled $250, and the income tax rate was 30%