5 At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $17.20 per unit: pints eBook References Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Units 580 560 160 (440) (200) Amount $2,958 3,976 1,456 Required: 1a. Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 1b. Assuming the use of a periodic inventory system, prepare a partial income statement under each method of inventory: (a) average cost, (b) FIFO, (c) LIFO, and (d) specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 2a. Between FIFO and LIFO, which method would result in the higher pretax income? 2b. Between FIFO and LIFO, which would result in the higher EPS? 3. Between FIFO and LIFO, which method would result in the lower income tax expense? Assume a 20 percent average tax rate. 4. Between FIFO and LIFO, which method would produce the more favorable cash flow? Complete this question by entering your answers in the tabs below. Average Cost Required 1A Required 1B Required 2A Required 2B Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. (Round unit price to 2 decimal places. Input all amounts as positive values.) Show less A Required 3 Cost of Good Available for Sale Required 4 Cost of Goods Sold

\begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow[t]{2}{*}{ Average Cost } & \multicolumn{3}{|c|}{ Cost of Good Available for Sale } & \multicolumn{3}{|c|}{ Cost of Coods Sold } \\ \hline & \begin{tabular}{c} Number of \\ Units \end{tabular} & Cost per Unit & \begin{tabular}{c} Cost of Goods \\ Avaitable for \\ Sale \end{tabular} & \begin{tabular}{l} Number of \\ Units Sold \end{tabular} & Cost per Unit & \begin{tabular}{c} Cost of Coods \\ Sold \end{tabular} \\ \hline Beginning inventory & 580 & & 2.958 & & & \\ \hline \multicolumn{7}{|l|}{ Punchases: } \\ \hline danuy 12 & 560 & & 3,976 & & & \\ \hline Imaky 26 & & & 1.456 & & & is \\ \hline Total & 1,300 & 6.45 & 8.390 & 640 & 645 & 4,128 \\ \hline \multirow[t]{2}{*}{ FiFo } & \multicolumn{3}{|c|}{ Cost of Coods Available for sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } \\ \hline & \begin{tabular}{c} Number of \\ Units \end{tabular} & Cost per Unit & \begin{tabular}{c} Coat of Goods \\ Avaitable fer \\ Sale \end{tabular} & \begin{tabular}{l} Number of \\ Units Sold \end{tabular} & Cost per Unit & \begin{tabular}{c} Cost of Goods \\ Sold \end{tabular} \\ \hline Beginning iwentory & & 5.10 & 2,958 & 560 & 5.10 & 2,95a \\ \hline \multicolumn{7}{|l|}{ Purchases: } \\ \hline January 12 & 560 & 7.10 & 3.976 & & & 5 \\ \hline January 26 & 100 & 0.10 & 1.450 & & & \\ \hline Fots: & 1,300 & & 0.390 & 560 & & 2,958 \\ \hline \multirow[t]{2}{*}{ LFO } & \multicolumn{3}{|c|}{ Cost of Coeds Avaliahile for sale } & \multicolumn{3}{|c|}{ Coot of Goods Sold } \\ \hline & \begin{tabular}{c} Number of \\ Units \end{tabular} & Cost per Unit & \begin{tabular}{c} Cost of Goods \\ Avalable for \\ Sale \end{tabular} & \begin{tabular}{l} Number of \\ Units sold \end{tabular} & Cost per Unit & \begin{tabular}{c} Cost of Goods \\ Sold \end{tabular} \\ \hline Aeginning imentory & 500 & 5.10 & 2,956 & & & \\ \hline \end{tabular} = At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $17.20 per unit: Required: 1a. Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost. FIFO, UFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 1b. Assuming the use of a periodic inventory system, prepare a partiol income statement under each method of inventory: (a) average cost, (b) FIFO, (c) LIFO, and (d) specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 2a. Between FIFO and LIFO, which method would result in the higher pretax income? 2b. Between FIFO and LIFO, which would result in the higher EPS? 3. Between FIFO and UFO, which method would result in the lowet income tax expense? Assume a 20 percent average tax rate. 4. Between FIFO and UFO, which method would produce the more fovorable cash flow? Complete this question by entering your answers in the tabs below. Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, UFO, and specific identificotion. For spocific identification, assume that the first sole was selected from the beginning inventory and the second sale was selected from the January 12 purchose. (Pound unit price to 2 decimal places. Input all amounts as positive values.)