Oy began January with merchandise inventory of 78 crates of vitamins that cost a total of 54.290. During the month, Rty purchased and sold merchandise on account as follows: Read the requirements Requirement 1. Prepare a perpetuiestory recording the inventory con method and determine the company's cost of goods sold ending merchandise inventory, and gross pront Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventory coming method. Er the transactions in cho l e n g new inventory on hand balances her each transaction. Once all of the ansactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. Enter the oldes t ory layers ) Purchases Cost of Goods sold inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost 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. 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. 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.) If the business wanted to pay the least amount of income taxes possible, which method would it choose? Jan. 5 Purchase 13 Sale 156 crates @ 180 crates @ 114 crates @ 150 crates @ $ $ $ $ 64 each 100 each 75 each 116 each 18 Purchase 26 Sale