Oct. 5	Purchase	130 crates @ $76 each
Oct. 13	Sale	140 crates @ $102 each
Oct. 18	Purchase	150 crates @ $83 each
Oct. 26	Sale	160 crates @ $118 each

1.	Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit.
2.	Prepare a perpetual inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit.
3.	Prepare a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.)
4.	If the business wanted to pay the least amount of income taxes possible, which method would it choose?

(Click the icon to view the transactions.) Read the requirements. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventory costing n merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. 2. Prepare a perpetual inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. 3. Prepare a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted-average cost pe unit to the nearest cent and all other amounts to the nearest dollar.) 4. If the business wanted to pay the least amount of income taxes possible