e icon to view the transactions.) Data table Exercise Planet began July with merchandise inventory of 80 crates of vitamins that cost a total of $3,600. During the month, Exercise Planet purchased and sold merchandise on accoun (Click the icon to viow the transactions.) Read the Requirement 1. Prepare a perpetual inventory record, using the FFFO imventory costing method, and determine the company's cost of goods sold, ending merchandse inventory, and gros Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventory costing method. Enter the transactions in chronological order, calculating ne. inventory on hand balances atter each transaction. Once all of the transactions have been entered into the perpetual recoed, calculate the quantify and total cost of morchandise inventory p sold, and on hand at the end of the period. (Enter the oldest inventory layers first) Dotermine the companys gross proft using the FifO inventory costing method Rene neaht le (Clikk the icon to view the transactions.) Read the Determine the companys gross profit using the FIFO invenory costing method. Gross profit is using the FIFO inventory costing method Requlrement 2. Prepare a perpetual inventory record, using the LiFo inventory costing method, and determine the company/s cost of goods sold, anding merchandise invantory, and gross prott. Begin by computing the cost of goods wold and cost of ending merchandise inventary using the LFo inventory coiting method. Enter the fransactions in chronological ories, caiculating new. Inventory on hand balances atlor each tranesction. Once al of the fransections have been entored into the perpetual record, calculais the quartey and fotal cost of merchandise inventiory purchased. sold, and on hand at the end of the perod. (Enter the oldest invertory layen frist.) Determine the company's gross profit using the LIFO inventory costing method. Sross profit is using the LiFO iriventory costing method Requirement 3. Prepare a perpetual irventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchar gross profit. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted-average inventory costing method. Enter the transactions in chronolog new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetuat record, calculate the quantiy and total cost of mercha inventory purchased, sold, and on hand at the end of the period. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dolar.) Delermine the compery's gross proft using the weighted-evnrage iventory costing method. Kequirement s. Frepare a perpetuat inventory record, using the weignted-average inventory costing metnoo, and oetermine tne companys cost or googs soic gross profit. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted-average inventory costing method. Enter the transac new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and tof inventory purchased, sold, and on hand at the end of the period. (Round weighted-average cost per unit to the nearest cent and all other amounts to the neare Determine the company's gross profit using the weighted-average inventory costing method. Gross profit is using the weighted-average inventory oosting method. Requirement 4 . If the business wanted to pay the least amount of income taxes possible, which method would it choose? If the business wanted to pary the least amount of income taxes possible, they would choose