Н K M N 1 Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Inventory...

Please complete the inventory reports and statements listed in the images. All information available and needed is provided in the images.

Extracted text: Н K M N 1 Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Inventory On-Hand Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 3. Purchases Cost of Goods Sold Exercise Gym began January with merchandise inventory of 65 crates of vitamins that cost a total of $3,835. During the month, Exercise Gym purchased and sold merchandise on account as follows: 4. Date 1 Jan. 5 Purchase 145 crates @ $ 80 each 13 Sale 160 crates @ $ 100 each 13 18 Purchase 170 crates @ $ 90 each 26 Sale 175 crates @ s 114 each 10 18 11 12 26 13 14 Totals 15 16 Gross profit is $ using the FIFO inventory costing method 17 18 19 Prepare a perpetual inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. 20 Inventory On-Hand Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 21 Purchases Cost of Goods Sold 22 Date 23 1 24 25 26 13 27 28 18 29 30 26 31 32 Totals 33 34 Gross profit is $ using the LIFO inventory costing method


Extracted text: B A Н K 35 36 37 Prepare a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. 38 Cost of Goods Sold Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 39 Purchases Inventory On-Hand 40 Date 41 42 43 44 45 13 46 18 47 48 49 26 50 Totals 51 Gross profit is $ using the weighted-average inventory costing method 52 53 54 If the business wanted to pay the least amount of income taxes possible, they would choose: