Woody's specialzes in sound equipment, Company records indicate the following data for a line of speakers: FiH (Click the icon to view the data.) Read the Requirement 1. Detemmine the amounts that Woody/s should report for cost of goode sold and ending inventory nowo ways: a. FiFO and b. Life. Woodys ises a porpetual impentory system. Start by determining the amounts that Woody/s should report for oost of goods sold and ending inventory under a. FIFO. FIFO method eost of goods sold = FIFO method ending inventory = Data table 1. Determine the amounts that Woody's should report for cost of goods sold and ending inventory two ways: (Woody's uses a perpetual inventory system.) a. FIFO b. LIFO 2. Woody's uses the FIFO method. Prepare the company's income statement for the month ended March 31,2021 , reporting gross profit. Operating expenses totaled $330, and the income tax rate was. 35%