Score: 0.35 of 3 pts 4 of 8 (8 complete) HW Score: 86.76%, 17.35 of 20 pts E6-20A (similar to) Question Help O MusicPlace specializes in sound equipment Company records indicate the following data for a line of speakers: (Click the Icon to view the data. Read the requirements Requirement 1. Determine the amounts that MusicPlace should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO. (MusicPlace uses a perpetual inventory system.) a. Using the FIFO method, the cost of goods sold is $ 605 and the ending inventory is $ 846 b. Using the LIFO method, the cost of goods sold is S 626 and the el i Data Table Requirement 2. MusicPlace uses the FIFO method. Prepare the company's the nearest dollar) enses totaled $320, and the income tax rate was 35%. (Round answers to Date Item Quantity Unit Cost Sale Price MusicPlace Income Statement Mar 1 Balance 19 S 55 2 Purchase Month Ended March 31, 2018 7 58 Sales revenue 7 Sale... 7 $ $ 91 1001 605 13 Sale.. 4 91 398 Cost of goods sold Gross profit Operating expenses Income before income tax Print Done Income tax expense Net income Choose from any list or enter any number in the input fields and then click Check Answer. ? All parts showing Clear All Check