Requirement Prea perpetual entory recording the PFO inventory courting method, and in the company's cost of goods to inding merchande vertory, and gross proft Begin by computing the cost of goods sold and cont of ending merchandise inventory using the FIFO inventory costing method Enter the transactions in chronological order, calculating new inventory on hand where ansaction Orol of the actions have been entered into the policord, calculate the quantity and total cost of merchandise inventory purchased and on hand at the end Purchases Cost of Goods Sold Inventary on Hund To Unit Total Unit Total Date Quantity Cost Cost Cost Cost Quantity Cost Cost Purchase 13 Sale 105 18 Purchase 13 18 20 1. 2 To 3. Prepare a perpetua inventory recording the FIFOwory method, and determine the company's cost of goods sold ending marchandise intory and gross proft Prepare a perpetual inventory recording UFO mentoring method, and determine the company's cost of goods soldading merchandisinvertory, and grous ro Prepare a perpetual inventory record using the waverage or costing method, and determine the company's cost of ending merchandise wory, and gross prof. Rounded average cost unit to the nearest cant and ler amounts to the nearest) If the business wated to which method would choose Enter any number in the edit fields and then click Check Answer 6 parts remaining 4 i Data Table X Jul. 5 Purchase 140 crates @ $ 87 each 13 Sale 160 crates @ $ 106 each 18 Purchase 154 crates @ $ 91 each 26 Sale 200 crates @ $ 116 each Print Done X i 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 per 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? Print Done Clear All i Requirements X 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. Preptre 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 Fil Universe began July with merchandise inventory of 76 crates of vitamins that cost a total of 54,560. During the month, FA Universe purchased and sold merchandise on account as follow Cick the icon to view the ansactions) Read the requirement Requirement 1. Prepare appel ventry or using the FIFO nventory cosing method, and storine the company's cost of goods o, ending merchandise inventory and gross prof. Begin by coming the one goods sold and colofending merchandise inventory using the invertory cooling method. Erter the actions in chronological order, cating new inventory on hand balansert Cross of the have been entered into the perpetual record, cate the quantity and total cost of merchandise invertory purchased cold and in hand at the end of the period (Entre emory layers st) Purchase Coat of Good Gold Inventory on Hand Unit Tot Cost Cost Quantity Cost Cest Guantity Cost Cost JULI 5 13 10 20 i Data Table X Jul. 5 Purchase 140 crates @ $ 87 each 13 Sale 160 crates @ $ 106 each 18 Purchase 154 crates @ $ 91 each 26 Sale 200 crates @ $ 116 each Print Done