answer the requirements using the numbers in the image below.

Aug 1 45units cost @24 each

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Units Unit Cost Unit Sales Price Aug. 3 Sale 35 63 8 Purchase 70 32 21 Sale 65 77 30 Purchase 25 47 Print Done sing the 1 ro Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances quantity and total cost of merchandise inventory purchased, sold, and n hand at the end of the period. (Enter the oldest inventory layers first Purchases Cost of Goods Sold Inventory on Hand Unit Total Total Unit Total Unit Date Cost Quantity Cost Quantity Cost Cost Quantity Cost Cost Aug 1 3 8 21 30 Totals Requirement 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method Enter any number in the edit fields and then continue to the next auestion Requirement 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balan quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers Cost of Goods Sold Purchases Inventory on Hand Unit Total Total Units Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug 1 8 21 30 Totals Enter any number in the edit fieids and then continue to the next question. Requirement 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted-average inventory costing method Start by entering the beginning inventory balances Enter the transactions in chronological order, calculating quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. new inventory on hand balances after each Purchases Cost of Goods Sold Inventory on Hand Total Unit Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug 1 8 21 30 Totals Requirement 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods The cost of goods sold amount for August using FIFO inventory costing is $ The cost of goods sold amount for August using LIFO inventory costing is $ The cost of goods sold amount for August using weighted-average inventory costing is $ Enter any number in the edit fielde and thn Requirement 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costi The cost of goods sold amount for August using FIFO inventory costing is $ The cost of goods sold amount for August using LIFO inventory costing is $ The cost of goods sold amount for August using weighted-average inventory costing is $ Requirement 5. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. Sales Revenue Cost of Goods Sold Gross profit FIFO LIFO Weighted-average Requirement 6. If the business wanted to maximize gross profit, which method would it select? If the business wanted to maximize gross profit, it would select the method