Mar sin and ment Compy cindate the flowing date for an of speaker Rent. Denne the amounts that Macys should report for cost of goods sold and ending inventory Using the cod of g Data table Cine SalePrice M 1. 17 M Purchase 3 54 75 109 Print Done Requirements Print Done MicYear specializes in sound equipment. Company records indicate the folowing data for a line of speakers: Click the icon to view the data) Read the requrements. Requirement 1. Determine the amounts that Music Year should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO (MusicYear uses a perpetual inventory system) a. Using the FIFO method, the cost of goods sold in and the ending inventory is $ Data table. Date tem Quantity Unit Cost Sale Price Mar 1 Balance. 17 $ 54 2 Purchase. 3 54 7 Sale 6 $ 109 13 S 92 Print Done Help me solve this Demodocs example Get more help x Requirements 1. Determine the amounts that MusicYear should report for cost of goods sold and ending inventory two ways: (MusicYear uses a perpetual inventory system) a. FIFO b. LIFO 2. MusicYear uses the FIFO method. Prepare the company's income statement for the month ended March 31, 2018, reporting gross profit. Operating expenses totaled $280, and the income tax rate was 40% Print Done Music Year specializes in sound equipment. Company records indicate the following data for a line of speakers: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the amounts that Music Year should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO. (Music Year uses a perpetual inventory system.) a. Using the FIFO method, the cost of goods sold is $ and the ending inventory is $ Help me solve this Demodocs example Get more help - Clear all Check answer mpture 10 0 00 My Textbook Solutions Solutions Solutions Solutions Data table Date Mar 1 Balance em Quantity Unit Cost Sale Price 17 $ 54 2 Purchase. 3 54 7 Sale. 6 $ 109 13 Sale 7 92 Print Done we this Demodocs example Get more help- Requirements 1. Determine the amounts that MusicYear should report for cost of goods sold and ending inventory two ways: (MusicYear uses a perpetual inventory system) a. FIFO b. LIFO 2. MusicYear uses the FIFO method. Prepare the company's income statement for the month ended March 31, 2018, reporting gross profit. Operating expenses totaled $280, and the income tax rate was 40%. MacBook Pro Print Done