Perpetual Inventory Record Assignment

Athletic World began July with a merchandise inventory of 65 crates of vitamins that cost a total of $3,835. During the month, Athletic World purchased and sold merchandise on account as follows: (Click the icon to view the transactions.) Read the requirements pany's cost of goods sold, ending Requirement 1. Prepare a perpetual inventory r merchandise inventory and gross profit. Data Table Begin by computing the cost of goods sold and c chronological order, calculating new inventory or calculate the quantity and total cost of merchant method Enter the transactions in e been entered into the perpetual record, enter the oldest inventory layers first) 145 crates @$ 80 each Jul. 5 Purchase Purchases 160 crates @ $ 110 each 13 Sale Unit Total 90 each 170 crates @S 18 Purchase Cost Cost 175 crates@ S 112 each Quantity Date 26 Sale Jul 1 Done Print Enter any number in the edit fields and then d Perpetua gross pr i X

Requirements st of goods ating new total cost d er 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. Prepare a perpetual inventory record, using the LIFO inventory costing 1 purchases Unit 2. method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Cost Prepare a perpetual inventory record, using the weighted-average inventory 3. costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar) e edit fields If the business wanted to pay the least amount of income taxes possible 4. which method would it choose?

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