Score: 1.54 of 5 pts 5 of 15 complete HW Score: 53.58%, 13 PF6A-32A (similar to) Quest Requirements 25th Century Electronic Center began July with 80 units of merchandise Inventory that cost $80 each. During July, the store (Click the loon to view the purchases) 25th Century uses the periodic Inventory systom, and the physical count at uy 31 indicates that 85 units of merchandise 1. Deformine the ending merchandise inventory and cost of goods sold mounts Read the requirements for the Aily financial statements using the FIFO, UFO, and weighted-awg Inventory conting methods. Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the Juy financial statem 2 Sales revenue for July boiled $29.000 Compute 25 Century's gross profit for July using each method 3. Which method will result in the lowest incomebase for 25th Century? Why FIFO LIFO Weighted average Which method will result in the highest income for 25th Century Why Ending inventory 7.480 6.810 7.140 Cost of goods sold 7.220 7.890 7.560 Print Done Requirement 2. Sater revenue for uy tomated $20.000. Compute 25th Century'n gross profe for July using each method FIFO Cost LIFO COM Weighted average Gross profil 7.220.00 0.100.00 7.560.00 Jul 3 20 units @ $82 each Jul 12 30587xch una 500 each Jul 18 Done