- X Data table Date Item Quantity Unit Cost Mar 1 Balance 25 $ 65 4 Purchase 70 $ 60 12 Sale 81 22 Purchase 35$ 54 31 Sale 22 Print Done 1 Requirements 1. Without resorting to calculations, determine which inventory method will result in Hardware, Inc., paying the lowest income taxes. 2. Prepare a perpetual inventory record using FIFO. 3. Prepare a perpetual inventory record using LIFO. 4. Prepare a perpetual inventory record using average cost. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar. Requirement. Without sorting location determine which motory method wil in Hwww.paying the income Wartory prices The the method will not in Hunter wing the lowest income Requirement 2. Para pecintory cong FIFO Start by the engine anons Enter the transaction in chronological order, calculating new invertory on and wachten to the line e record the quantity and total cost of inventory purchases, and on hand at the end of the period for goods site to controle loyers Purchase Cost of goods sold Inventory on hand Total Unit Total Un Total Date Q Cost Cost Oy Cost Cost Qty Cost Mw 1 4 12 Mar 311 Total Requirement, Proper a perpetual Wenty recording UFO Start by entering the opening vento balance. Enter the actions in chronological order, calculating new inventory on and ones whor och action. One of the actions have been the cord, the quantity and total cost of wory purchased sold and on and the end of the For cost of Goods, enterte por out under UFO costingfru Forintotodid Purchases Unit Total Cost Cost Cost of goods sold Unit Total QEY Cost Cost Inventory on hand Unit Total Qty Cost Cost Date Qty Q 1 Mar 4 12 M 22 Mar 31 Total Hequirement perpetuamentary and we cost Round cont per un restent and other wou to Sort by entering the opening inventory ban the coloring wory on and the each one and called and out of the schoonheid of the periodo per Purchases Cost of goods sold Inventory on and Unit Total Unit Total unit Tutar Oy Cort Coul hy Cost cost QY Cost Cost M 22 31 Total