a PB7-1 (Algo) Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System [LO 7-3) Cost 310 360 900 BO 280 Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the accounting period, January 31. The inventory's selling price is $8 per unit Unit Transactions Units Total Cost Inventory, January 1 $ 2.00 $ 620 Sale, January 10 (250) Purchaso, January 12 2.50 Sale, January 17 (150) Purchase, January 26 3.50 Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the following inventory costing methods: a. Weighted average cost b. First-in, first-out c. Last-in, first-out. d. Specific identification, assuming that the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase 2-a. Of the four methods, which will result in the highest gross profit? 2-b. Of the four methods, which will result in the lowest income taxes? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Prev 1 of 4 !!! Next > Required: 1. Compute the amount of goods available for sale, ending Inventory, and cost of goods sold at January 31 under each of the following Inventory costing methods: a. Welghted average cost. b. First-In, first-out. c. Last-in, first-out d. Specific identification, assuming that the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase 2-a. Of the four methods, which will result in the highest gross profit? 2-b. Of the four methods, which will result in the lowest income taxes? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Compute the amount of goods available for sale, ending Inventory, and cost of goods sold at January 31 under each of the Inventory costing methods. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Amount of Goods Cost of Goods Available for Sale Ending Inventory Sold a Weighted average cost b. First-in, first-out c. Last-In, first-out d. Specific identification ROO Req 2A > t. Comutofoons for sending and cool and westoy conting methods We were cost tout class out d. Se rication in the way to see was from the beginning wertory and January 12 purch 2. Of the four methods, which wist in the highest gros 3-5. Of the four menos which we come! Complete this question by entering your answers in the tablow. 1 of which with O R2 > Next > 5 3 6 6 B w w R T Y U S D F G H 3 C V B N 1. Compute the mount of good for nog inventory and cost of goods in very costing Weighted average cost bout custos d. Specification in the locale westrom the beginning Viventory and the January 12 CM 2. Of the founts which will inte highest gross proti 2. Of the four methods with the lowest income taxes Colete the set by entering your wars in the table Ortom, which in the lowest met 5 W E R E T u S D F G H 3 C V B N