SWAT Team Surplus began October 2021 with 70 stoves that cost $10 each. During the month, the company made the following purchases at cost: (Click the icon to view the purchases.) The company sold 248stovesand at October31, the ending inventory consisted of 52stoves.The sales price of each stovewas $55. Read the Requirement 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. Cost of goods sold Ending inventory Data table Requirements 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. 2. Explain why cost of goods sold is highest under LIFO. Be specific. 3. Prepare the SWAT Team Surplus income statement for October. Report gross profit. Operating expenses totaled $4,000. The company uses average costing for inventory. The income tax rate is 32%