Question 6 11

Answer all the requirements please thank you

E8 (Click the icon to view the transactions.) Read the requirements. sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Requirements 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 merchandise inventory, and gross profit. (Round weighted-average 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? Determine the company's gross profit using the FIFO inventory costing method. Gross profit is using the FIFO inventory costing method. sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Determine the company's gross profit using the LIFO inventory costing method. Gross profit is using the LIFO inventory costing method