that cost $82 each. During October, the store made the following purchases, 31 indicates that 80 units of merchandise inventory are on hand. old amounts for the October financial statements using the FIFO, LIFO, and weigh Requirements 1. Determine the ending merchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighted average inventory costing methods. 2. Sales revenue for October totaled $23,000. Compute 25th Century's gross profit for October using each method. 3. Which method will result in the lowest income taxes for 25th Century? Why? Which method will result in the highest net income for 25th Century? Why? Print Done each. During October, the store made the following purch nat 80 units of merchandise inventory are on hand. or the October financial statements using the FIFO, LIFO, and i Data Table Oct. 3 25 30 35 units @ $ units @ $ units @ $ 90 each 90 each 96 each Print Done