The problem is P6-28A in chapter 6 in Horngren Accounting Textbook 11th edition. its a LIFO and FIFO question.The problem is :

***I attached document that has an outline****

Athletic Universe began January with merchandise inventory of 65 crates of vitamins that cost a total of $3835. During the month, Athletic Universe purchased and sold merchandise on account as follows:

Jan 5 Purchase 145 crates @ $80 each

13 Sale 160 crates @ $96 each

18 Purchase 170 crates @ $90 each

26 Sale 175 crates @ $110 each

Requirements are:

1. Prepare a perpetual inventory record using FIFO inventory cost method and determine the company's cost of goods sold, ending merchandise inventory and gross profit

2.Prepare a perpetual inventory record using LIFO inventory cost method and determine the company's cost of goods sold, ending merchandise inventory and gross profit

3. If the business wanted to pay the least amount of income taxes possible, which method would it choose?

WORKSHEET FOR USE WITH PROBLEM 6-28A Perpetual Inventory Record: FIFO Date Quantity Purchases Unit Cost Total Cost Quantity Cost of Goods Sold Unit Cost Total Cost Quantity Inventory on Hand Unit Cost Total Cost Perpetual Inventory Record: LIFO Date Quantity Purchases Unit Cost Total Cost Quantity Cost of Goods Sold Unit Cost Total Cost Quantity Inventory on Hand Unit Cost Total Cost