easy use electronic center began october with 80 units of merchandise inventory that cost 57 each during october t

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Requirements
1. Determine the ending merchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighted-average inventory costing methods.
2. Sales revenue for October totaled $ 30,000. Compute Easy Uses’ gross profit for October using each method.
3. Which method will result in the lowest income taxes for Easy Use? Why? Which method will result in the highest net income for Easy Use? Why?