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please answer all the requirements. thank you Best Yet Electronic Center began July with 70 units of merchandise inventory that cost $74 each. During July,

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Best Yet Electronic Center began July with 70 units of merchandise inventory that cost $74 each. During July, the store made the following purchases: (Click the icon to view the purchases.) Best Yet uses the periodic inventory system, and the physical count at July 31 indicates that 80 units of merchandise inventory are on hand. Read the requirements X an Requirements Data Table Jul. 3 Jul. 12 1. Determine the ending merchandise inventory and cost of goods sold amounts for the July financial statements using the FIFO, LIFO, and weighted-average inventory costing methods. 2. Sales revenue for July totaled $24,000. Compute Best Yet's gross profit for July using each method 3. Which method will result in the lowest income taxes for Best Yet? Why? Which method will result in the highest net income for Best Yet? Why? 20 units @ $76 each 30 units @ $78 each 40 units @ $94 each Jul. 18 Print Done Print Done

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