> Problems Group B For all problems, assume the perpetual inventory system is used unless stated otherwise. Learning Objectives 2, 3 P-F:6-33B Accounting for inventory using the perpetual inventory system- FIFO, LIFO, and weighted-average 2. Ending Merch. Inv. $4,550 Exercise World began January with merchandise inventor of 90 crates of vitamins that cost a total of $5,850. During the month, Exercise World purchased and sold merchandise on account as follows: CHAPTER 6 48F Clear 4x 62 F2 # 3 Jan. 2 Purchase 5 Sale 16 Purchase 130 crates @$ 76 each 140 crates $100 each 27 Sale 170 crates @$ 86 each 180 crates @ $ 104 each Requirements 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. 2. 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. 37% Page 6 46 of 0 Location 6617 of 18051 23 Dll F4 4 34 $ 55 a H FS FO > & 6 7 A W prt sc FR 10 8 00