Question Help FR Gym began January with merchandise inventory of 78 crates of vitamins that cost a total of 54,290. During the month, Fit Gym 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, ending 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 Unit Total Unit Total Unit Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jan. 1 Total 5 13 18 26 Totals Data Table Jan. 5 Purchase 13 Sale 18 Purchase 26 Sale 156 crates @ 5 64 each 180 cratese S 100 each 114 crates 75 h 1505 116 each Print Done Enter any number in the edit Delds and then Checker omam o iyul Vuel, Lalludily new Inventory on hand balances after each transaction ions have been entered into the perpetual record, calculate the quantity and total cost of merchandise in ed Requirements on Hal bst 1. 2. 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? 3. 4. Print Done tals Data Table