This question: 15 point(s) possible Submit test Gamett's Office Depot sells office furniture The company's fiscal year ends on March 31, 2020 On January 1, 2020 inventory consisted of 24 office dividers that cost $1 820 each Assume that the company uses a perpetual inventory system and that purchases of inventory occur on the first day of each month (Click the icon to view the purchase and sale information) Required 1. Determine the cost of the divider ending inventory at March 31 2020 under (a) moving weighted average costing and (b) FIFO costing 2. Prepare a multi-step income statement for the quarter ended March 31 2020 under each method descnbed in requirement 1 Requirement 1 Determine the cost of the divider ending inventory at March 31 2020 under (a) moving weighted average costing and (b) FIFO costing Prepare the perpetual inventory record under (a) moving weighted average (Round average cost per unit to the nearest cent. Round all other calculations to the nearest whole dollar When calculating inventory on hand, use the technique as outlined in the text. Rounding issues will occur if alternate methods are used) (a) Moving-Weighted-Average Purchases Cost of Goods Sold Inventory on Hand Date QTY Unit Cost Total Cost QTY Unit Cost Total Cost QTY Unit Cost Total Cost Jan 1 Jan 1 Jan Feb 1 Feb Mar 1 Mar the compa mation.) Purchases and sales - X arch 31, 2020 nded March 3 During the quarter, the company purchased merchandise on account as follows Units Unit Cost Total January 63 ventory at Ma $ 1,870 February 46 1,910 Fighted-avera ate methods $ 117,810 87,860 77,200 llar. When calci March 40 1,930 Sales for each month in the quarter were as follows Units Unit Selling Price Total of Goods So 53 $ 3,800 $ 201,400 t Cost January February 16 3,900 62,400 172,000 March 43 4.000 Operating expenses in the quarter were $106.000 Print Done Requirement 1. Determine the cost of the divider ending inventory at March 31, 2020, under (a) moving-weighted average costing and (b) FIFO costing Prepare the perpetual inventory record under (a) moving-weighted-average (Round average cost per unit to the nearest cent. Round all other calculation outlined in the text. Rounding issues will occur if alternate methods are used.) (a) Moving-Weighted-Average Purchases Cost of Goods Sold Inventory on Hand Date QTY Unit Cost Total Cost QTY Unit Cost Total Cost QTY Unit Cost Total Cost Jan 1 Jan 1 Jan Feb 1 Feb Mar 1 Mar Ending Prepare the perpetual inventory record under FIFO (Enter the oldest inventory layer first.) (b) FIFO Purchases Cost of Goods Sold Inventory on Hand Date QTY Unit Cost Total Cost QTY Unit Cost Total Cost QTY Unit Cost Total Cost Jan 1 Jan 1 Jan Feb 1 Feb Jan Feb 1 Feb Mar 1 Mar Ending Requirement 2. Prepare a multi-step income statement for the quarter ended March 31, 2020 under each method described in requirement 1 Prepare the income statement under each method described in requirement 1 Begin with the weighted average and then FIFO (Use parentheses or a minus sign f OL C Mar Ending Requirement 2. Prepare a multi step income statement for the quarter onded March 31, 2020, under each mothod described in requirement 1 Prepare the income statement under each method described in requirement 1 Begin with the weighted averago, and thon FIFO (Use parentheses or a minus sign for operating losses) Garnett's Office Depot Income Statement For the Quarter Ended March 31, 2020 Moving-Weighted- Average FIFO 0 Q - B