1. Compute the cost of ending inventory and cost of goods sold using the FIFO method Cost of ending inventory Cost of goods sold 2. Compute the cost of ending inventory and cost of goods sold using the LIFO method Cost of ending inventory Cost of goods sold 3. Compute the cost of ending inventory and cost of goods sold using the average cost method. (Note: Use four decimal places for per-unit calculations and round all other 38,640 195,490 31,305 202,825 numbers to the nearest dollar.) Cost of ending inventory Cost of goods sold . Conceptual Connection: Assume that operating expenses are $21,600 and Welding Products has a 30% tax rate. How much will the cash paid for income taxes differ among 197,238.5 the three inventory methods? Round your answers to the nearest dollar. Income Taxes Expense FIFO LIFO Average Cost