thod, and determine the company's cost of goods sold, endirg 1 Data Table olog n ha Jul. 5 Purchase 145 crates80 each 160 crates 102 each 170 crates90 each 175 crates $ 114 each 13 Sale 18 Purchase 26 Sale rint Done 50 80$4,000 17090 $ 15,300 Exercise Gym began July with merchandise inventory of 65 crates of vitamins that cost a total of $3,835. During he morth, Exercise Gym purchased and sold merchandise on account as follow Click the icon to view the transactions.) Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and detormine the company's cont of goods sold, ending merchandise inventory, and gross proft Begn bycoo trgthe costofgoods sold ard costoferdrg mereandise inventry using te FFO mrtoy costing metod. Enter te transactors in chronologcal odercalaig inntry on hand beance" "her each transaction Once all of the transactions have been entered into the perpetual econd, caloulate the quantity and total cost of menchandise inventory punchased, sold, and on hand at the and of the period. (Enter the oldest inventory layors first) Cost of Goods Sold Inventory on Hand Unit Total Unit Total Dabe QuantityCost Cost Quentity Cost Cost Quantity Cost Cost Unit Total 65 59S 3,835 45 80 11.800 65|S 59|$3,835 145 11,800 65 9 3,83 sols 80|$ 4,000 170 90 15,30 170 15.300 Enter any number in the edit fields and then clck Check Anawer Inventory on Hand Unit Purchases Cost of Goods Sold Total Unit Total Unit Total Date QuantityCostCost QuantityCost CostQuantity Cost Cost 65 S59 $3,835 65 $59 $ 3,835 145 $80 $ 11,600 50 S 80S 4,000 Jul. 1 145 $80 11,600 65 $ 59 s 3,835 95 $ 80 $ 7,600 13 18 170 S 90 15,300 50 80 S 4,000 170 $90 $ 15,300 50 $ 80 4,000 125$ 90 $ 11,250 335 26 45 S 90 4,050 S 26,90 $ 26,685 $ 4,050 Totals 315 45 Enter any number in the edit fields and then click Chank Anewer Determine the company's gross profit using e FIFO inventory costing method Gross profit is $ 9.585 using the FIFO inventory costing methord Requirement 2. Prepare a perpetual inventory record, using the LIFO inventory costing method, and determing the company's cost of goods sold, ending merchandise inventory, and gross proft Begin by computing the cost of goods sold and coat of ending merchandise inventory using the LIFO inventory coating method. Enter the transactions in chronological onder, caloulating new inventory on hand balances after each ransaction Once al of the transadtions have been entered into the perpetual necord, caloulahe the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the perlod. (Enter the oldest inventory layers ferst) Inventory on Hand Unit Total Unit Total 65 $ 3,835 65 9 3,835 145 80 11,800 50 59 IS 2,060 Jul 1 145 8 s 11,00 145 S 11,600 s 2.950 Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost ity Cost Cost Quantity Cost Cost 65 $59 $ 3,835 65 $59 3,835 145 S80 $11,600 50 59 2950 Jul. 1 145 S 80 $ 11,600 145 80 11,600 15 $59 S885 13 50 $59 S 2,950 170 $ 90 $ 15,300 45 $59 $ 2,655 18 170 $ 90 15,300 170 $ 90 $ 15,300 5 59 $295 $ 28,080 26 Totals 315 $ 26,900 335 45 S 2,655 Enter anv number in the edit fields and then click Check Answer Determine the companys gross proft using he LIFO inventory costing method Gross proft s$ 8,190 using the LIFO inventory costing method Requirement 3. Prepare a perpetual inventory ecord, using the weighted-average inventory costing method, and determine the company's cost of goods soid, ending merchandise inventory, and gross prof the nearest cent and al oter amounts to the nearest doiar) Cest of Goods Sold nventory en Hand Unit Total UnitTotal Dale Quantity Cost Cost Quantity Cost Cost Quantity Cost Enter any number in the edt fields and then cick Check Anwe lunese Gym began My with metardee metry of 65crates of vtam ht oost a lot. ofssas. D ng te mrn Eurose Oym punased and sold merhanaeonman atlon Click the loon to view the transactions.) Begih by computing the cost of goods sold and cost of ending merchandise inventory uning the wighted-average inventory conting method. Enter the transactions in chronological order, calculating new inventory an hand balances after each ransaction. Once all of the transactions have been entered into the perpetual recond, caloulate the quantity and total cost of merchandise invenory purchased, sold, and on hand at the end of the perlod. (Round weighted-average cost per unit to Cost of Inventory on Hand Unit UnitTotal Unit Total Date Quentity Cost Cest Quentity Cost Cost QuantityCoatCost