Use this Fact Set for Questions 2-7: Three retailing glants, Best Buy Co., Inc. (NYSE: BBY), Amazon.com. Inc.. (NASDAQ: AMZN). and Target Corporation (NYSE; TOT) each use a different inventory costing method. Best Buy uses weighted-average cost, Amazon uses FIFO and Target uses LIFO. As you will see from the hypothetical example below, the use of a different inventory costing method will load to differences in income statements and balance sheets. Best Buy. Amazon and Target sell a popular T-shirt for $20. Let's assume that all three companies have the same sale and inventory purchase pattern for the same period. Beginning inventory: 20.000 @ $4.00 Purchases: 30.000 @ $5.00 Ending inventory 10,000 2. (0.5 point) How many T-shirts were sold by each retailer during the period? 10,000 1-shirts 20.000T-shirts 30.000 T-shirts 40.000 T-shirts (0.7 point) What is cost of goods sold, gross profit and cost of ending inventory for Best Buy using the weighted-average inventory costing method? $180,060; $620.060; $50,000 b. $190.000: $810.000. $40.000 $184,000, 5616,000, 546,090 d. $150,000; $680,000; $62,000 (0.7 point) What is cost of goods sold, gross profit and cost of ending inventory for Amazon using the FIFO inventory costing method? a. $180,000; $620,060; $50,060 $ $190.000: $610,000; $-10.000 $184,000: 5616,000, $46,000 d. $150,000; $680,000; $62,060 5. (07 point) What is cost of goods sold, gross profit and cost of ending inventory for Target using the LIFO Inventory costing method? 3. $180,000; $620,000; $50,000 b. $190,000. 5610.000, $40,000 e. $184,000. $616.000, $46.000 d. $150,000; $680,060; $82,000 6 (0 7 point) Whyoh company has the highest gross profit (profits tiny] simply cus tele choice of becounting inventory method? a.Best Buy b Amazon e Target d. Gross profit was the same for all of the companies, since they sold the same amount starts for the same price as well as they pay the same price for the r (U.7 point) Which company will save the most an income taxeh? that the less income you report, the loss income taxes you bay Best Buy b. Amazon Target The tax on willbe same for allof the companies since they sold tho saul number of shirts for the same price as well as they paid the same price for their aventory