Tomorrows Electronic Center began December with so units of merchandise inventory that cost 570 onch. During December, the store made the following purchases: (Click the loon to view the purchases) Tomorrows uses the periodic inventory system, and the physical count at December 31 indicates that 110 units of merchandise inventory are on hand Read the requirements Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the December financial statements using the FIFO, UFO, and weighted average Inventory costing methods FIFO Requirements Data Table Ending inventory Cost of goods sold 1. Determine the ending merchandise invertory and cost of goods sold amounts for the December financie statements using the FIFO, LIFO and weighted average inventory couting methods 2 Sales revenue for December totaled 528,000. Come Tomorrow's gross profit for December using each method 3. Which method will result in the lowest income taxes for Tomorrow? Why? Which method wil result in the highest net income for Tomontow? Why? Dec.3 Dec 12 Dec 10 20 units 575 och 40 i 378 oach 60 564 each Print Dono Print Dona