Complete the Chart Using the LIFO and FIFO Costing Methods

Complete the chart using the LIFO and FIFO costing methods, assuming a period of increasing costs:
$\begin{array} { | l | l | l | } \hline & \text { Highest Amount } & \text { Lowest Amount } \\\hline \text { Cost of merchandise sold } & & \\\hline \text { Gross Profit } & & \\\hline \text { Net Income } & & \\\hline \text { Ending Merchandise Inventory } & & \\\hline\end{array}$

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