3. 2.00 points Assume that a retailer's beginning inventory and purchases o a popular i em during January clu ded: 430 units a ss.30 n beginning n entory on anuary 1 (3) 880 units at $10.30 purchased on January 29. The company sold 480 units on January 12 and 680 units on January 30 n sa SS30 purchase on an ary and Required: 1. Calculate the cost o goods sold for the month of January under a FIFO periodic ca lation b FIF perpetual calculation (G FOpe odic ca cu ation , a d FO perpetual i lation Cost of Goods Sold a. FIFO (periodic calculation) b. FIFO (perpetual calculation) c. LIFO (periodic caculation) d. LIFO (perpetual calculation) 2. Which cost flow assumption and calculation approach would you recommend to management in order to save taxes? FIFO Periodic O FIFO Perpetual O LIFO Periodic LIFO Perpetual