Requirements 0 Data Table Unit Cost Unit Sales Price Aug. 3 Sale 8 Purchase 21 Sale Units 65 70 $ 28 1. Prepare a perpetual inventory record for the merchandise Inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted average inventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted average inventory costing methods. Compute gross profit for August using FIFO, LIFO, and weighted average inventory costing methods. 6. If the business wanted to maximize gross profit, which method would it select? 30 Purchase 45 Print Done Print Done Clear All Requirements 0 Data Table Unit Cost Unit Sales Price Aug. 3 Sale 8 Purchase 21 Sale Units 65 70 $ 28 1. Prepare a perpetual inventory record for the merchandise Inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted average inventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted average inventory costing methods. Compute gross profit for August using FIFO, LIFO, and weighted average inventory costing methods. 6. If the business wanted to maximize gross profit, which method would it select? 30 Purchase 45 Print Done Print Done Clear All