Up-to-Date Electronic Center began October with 70 units of merchandise inventory that cost $74 each. During October, the store made the following purchases: (Click the icon to view the purchases.) Up-to-Date uses the periodic inventory system, and the physical count at October 31 indicates that 80 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 October financial statements using the FIFO, LIFO, and weighted-average inventory costing methods. FIFO Ending inventory Cost of goods sold Data table Data Table Oct. 3 20 units @ $76 each Oct. 12 30 units @ $78 each Oct. 18 40 units @ $94 each = cial sta 1. Journalize the entries to record Central States Telecom's transactions during the year. 2. What special asset does Central States Telecom's acquisition of Sugar Wireless identify? How should Central States Telecom account for this asset after acquiring Sugar Wireless? Explain in detail. Print Done