At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16.20 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, LFO, 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) FFO, (c) UFO, 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 UFO, which would result in the higher EPS? 3. Between FIFO and UFO, which method would result in the lower 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 systern, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identifeation. For specofic 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.) \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow[t]{2}{*}{ UFO } & \multicolumn{3}{|c|}{ Cost of Goods 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} Cost of Goods \\ Avaliable 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 \multicolumn{7}{|l|}{ Beginning inventory } \\ \hline \multicolumn{7}{|l|}{ Purchases: } \\ \hline \multicolumn{7}{|l|}{ January 12} \\ \hline \multicolumn{7}{|l|}{ January 26} \\ \hline Total & & & & 0 & & \\ \hline \multirow[t]{2}{*}{ Specific Identification } & \multicolumn{3}{|c|}{ Cost of Goods 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} Cost of Goods \\ Avaliable 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 \multicolumn{7}{|l|}{ Beginning inventory } \\ \hline \multicolumn{7}{|l|}{ Purchases: } \\ \hline \multicolumn{7}{|l|}{ January 12} \\ \hline \multicolumn{7}{|l|}{ January 26} \\ \hline Total & & & s & 0 & & $ \\ \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 $16.20 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, 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) averag 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 pte. 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. 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. (Round the average cost per unit value to 2 decimal places. Round the final value to nearest whole dollari) At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16.20 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, 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) UIFO, 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. Between FIFO and LIFO, which method would result in the higher pretax income? At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16.20 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, 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. Between FIFO and LFO, which would result in the higher EPS? At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16.20 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, 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. Between FIFO and UFO, which method would result in the lower income tax expense? Assume a 20 percent average tax rate. (Round your answer to 2 decimal places.) At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16.20 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, 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. Between FIFO and UFO, which method would produce the more favorable cash flow