tomorrow's electronic center begin July with 80 units of merchandise inventory that cost $80 each. During July, the store made the following purchases:

III: (Click bin loon ta view the purchases) Tomorrow uses the periodic inventory wysiem, and the physical couri at July 31 indiales thet 05 units of mierchandee inventory are on hand. Rosid the requirements. methods. Data table Requirements 1. Determine the ending merchandise inventory and cost of goods sold amounts for the July financial statements using the FIFO, LIFO, and weighted-average inventory costing methods. 2. Sales revenue for July totaled $24,000. Compute Tomorrows's gross profit for July using each method. 3. Which method will result in the lowest income taxes for Tomorrows? Why? Which method will result in the highest net income for Tomorrows? Why