AP7-5 (Appendix 7A) Analyzing the Effects of Three Alternathe Imentory Methods and Deciding on the Preferred Method (S (P7-9) (S LO7-S1 Yared Company uses a periodic inventory system. The company's accounting records for the most popular item in inventory showed the following details: Requinut: Compate (a) the cost of goods avallable for sale during 202I, (b) the cost of ending inventory at December 31, 2021, and (c) the cost of sales for 2021, under cach of the following inventory costing methods (show computations and round to the nearest dollar): 1. Weighted-average cost. 2. FIFO. 3. Specific identification, assuming that the company is permitted to use it and that two-fifths of the units sold on March 14, 2021 were selected from the beginning inventory and three-fifths from the purchase of January 30 . 2021. Assume that the sale of August 31 , 2021 was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. 2021. 4. As a shareholder, which of these three methods would you prefer? Explain