Question 31 4.75 pts If Walmart uses the FIFO inventory costing method when inventory pricing is decreasing, the GROSS PROFIT will be: less than the gross profit under the LIFO method. higher than the gross profit under the LIFO method. equal to the gross profit under the LIFO method. O equal to the cost of goods sold under the LIFO method. Question 30 4.75 pts Orlando Vespa would record the following journal entries (debits and credits) to recognize the revenue and reduce their inventory when they sell a Vespa Sprint 150S scooter for cash- hint: remember the "2 step" (Select ALL that apply): Debit Cash Credit Inventory Credit Revenue Debit to Inventory Credit Cost of Goods Sold Credit Deferred Revenue Credit Cash Debit Deferred Revenue Debit Cost of Goods Sold Debit Revenue