(Solved): Futuristic Electronic Center began October with 65 units of merchandise inventory that cost $82 eac ...

Futuristic Electronic Center began October with 65 units of merchandise inventory that cost $\$82$ each. During October, the store made the following purchases: (Click the icon to view the purchases.) Futuristic uses the periodic inventory system, and the physical count at October 31 indicates that 80 units of merchandise inventory are on hand. Read the Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the October financial statements using the FIFO, LIFO, and weighte methods. Requirement 2. Sales revenue for October totaled $\$28,000$. Compute Futuristic's gross profit for October using each method. Data table