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I dont understand what to place in ghe chart and how to calculate it.

Data table MusicPalace specializes in sound equipment. Company records indicate the following data for a line of speakers: (Click the icon to view the data.) Read the coquirements: Requirement 2. MusicPalace uses the FIFO method. Prepare the company's income statement for the month ended March 31, 2021, reporting gross profit Operating expenses totaled $250, and the income tax rate was 35%. (Round answers to the nearest dollar) Requirement 1. Determine the amounts that MusicPalace should report for cost of goods sold and ending inventory two ways. a. FIFO and b. LIFO. (MusicPalace uses a perpetual inventory system.) Start by determining the amounts that MusicPalace should report for cost of goods soid and ending imventory under a. FIFO FIFO method cost of goods sold = FIFO method ending inventory = Determinie the amounts that MusicPalace should report for cost of goods sold and ending inventory under b. LifO LIFO mathod cost of goods sold = LIFO method ending inventory - MusicPalace specializes in sound equipment Company recouds indicate the following data for a lhe of spelakers: (Click the icon lo view the data) Read the risguinements. Requirement 1. Determine the ansounts that MunicPalace should report for cost of goods sold and ending imventory two ways: a. FIFO and b. LIFO. MusicPalace uses a perpetual inventory system ) Start by detemining the amounts that NusicPalace should report for cest of gooda sold and anding inventory under a. FiFO FFO method cost of goods sold - FFO mathod ending isventory *

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