need help with parts 1-6 FAST please!!!
Data table re a perpetua eainnina invel and balances af the end of the Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method. 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted-average inventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods. 5. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. 6. If the business wanted to maximize gross profit, which method would it select? Iron R Us began August with 70 units of iron inventory that cost $25 each. During August, the company completed the following inventory transactions: (Chick the ion to ver the transactions.) Fiead the Requirement 1. Prepare a perpelual inventory recoed for the morchandise inventory using the FIFO inventory costing method Start by entering the beginning inventory balsnces. Enter the transactions in chronological ender, calculating new inventory on hand balances after each transaction. Once at of tro vansacticne Auro been Requirement 2. Propare a perpetual invertory record foe the muechandise inventory uning the LiFO inventory costing method, Start by entering the beginning imventory butances. Enter the transactions in chronological onder, calculating new invemory on hand balances afier each transaction Once al of the transactions have been Pequirement 3. Prepare a porpetual inventory record tor the meechandise investory using the weighted-average inventory costing mehod. Requirement 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing mothods. The cost of goods sold amount for August vsing FIFO inwentory costing is: The cost of goods sold amount for August using UFO inventory costing is The cost of goods sold amount for August using weighted-average inventory costing is Requirement 6 . If the business wanted to maximize gross peofle which method would it solech If the business wanted to maximze gross profit, it would solect the method