Please complete the following requirements.
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Homework: Chapter 6 homework Save Score: 0 of 1 pt 1 of 1 (1 complete) HW Score: 0%, 0 of 1 pt X P6-28A (similar to) Question Help Athletic World began May with merchandise inventory of 95 crates of vitamins that cost a total of $3,800 During the month. Athletic World purchased and sold merchandise on account as follows. (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, anding merchandise inventory, and gross profit Begin by computing the cost of goods sold and cost of ending merchandise Inventory using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction Once all of the transactions 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 oldest inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Total Unit Total Unit Total Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost 401S 3800 May 11 5 1555 71 11,005 Unit Date 11 005 5 $ 14.475 Enter any number in the edit fields and then click Check Answer. Clear All Check Answer 6 parts remaining i Data Table meth: e be ntert ind May 5 Purchase 13 Sale 18 Purchase 26 Sale 155 crates @ 180 crates @ 193 crates @ 200 crates @ $ $ $ $ 71 each 104 each 75 each 114 each B00 Print | Done 1 Requirements 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? Print Done Homework: Chapter 6 part B homework Save Score: 0 of 1 pt 1 of 9 (2 complete) yol HW Score: 1.37%, 0 12 of 9 pts Question Help XE6-15 (similar to) Super Mart, a regional convenience store chain, maintains milk inventory by the gallon The first month's milk purchases and sales at its Tempe, Arizona, location follow (Click the icon to view the purchases and sales.) Read the requirements ced CON Requirement 1. Determine the amount that would be reported in ending merchandise inventory on October 15 using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions 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 all amounts to the nearest cent, SXXX. Enter the oldest inventory layers first) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Total Date Quantity Cost Cost Quantity Cost Quantity Oct 21 10 5 1.60 $ 16.00 25 190 $ 3.80 Isini Tsin 45 160 6.40 21 S 2.35 l S 4.70 Pel Enter any number in the edit fields and then click Check Answer 2 remaining parts Clear All Check Answer i More Info Dnce at th Tota Oct 2 Purchased 10 gallons @ $1.60 each 6 Purchased 2 gallons @ $1.90 each 8 Sold 4 gallons of milk to a customer 13 Purchased 2 gallons @ $2.35 each 14 Sold 4 gallons of milk to a customer Cost __ Print Done 0 Requirements 1. Determine the amount that would be reported in ending merchandise inventory on October 15 using the FIFO inventory costing method. 2. Determine the amount that would be reported in ending merchandise inventory on October 15 using the LIFO inventory costing method 3. Determine the amount that would be reported in ending merchandise inventory on October 15 using the weighted average inventory costing method. (Round all amounts to the nearest cent $XXX Pnnt | Done
