Assume that a retailer's beginning inveritory and purchases of a popular item during January included $(1)300$ units at $$7$ in beginning inventory on January $1,(2)450$ units at $$8$ purchased on January $8,$ and $(3)750$ units at $$9$ purchased on January $29.$ The company sold $350$ units on January $12$ and $550$ units on January $30.$

Required:

Calculate the cost of goods sold for the month of January under $($a$)$ FIFO $($periodic calculation$),($b$)$ FIFO $($perpetual calculation$),$ and $($c$)$ LIFO $($periodic calculation$).$

Which cost flow assumption and calculation approach would you recommend to management in order to save taxes?

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Calculate the cost of goods sold for the month of January under $($a$)$ FIFO $($periodic calculation$),($b$)$ FIFO $($perpetual calculation$),$ and $($c$)$ LIFO $($periodic calculation$).$

$\backslash$table$[[$Cost of Goods Sold$],[$a$.$ FIFO $($periodic calculation$),],[$b$.$ FIFO $($perpetual calculation$),],[$c$.$ LIFO $($periodic calculation$),]]$