At the end of Jsnusry of the current yeer, the records of Donner Compeny showed the follawing for a perticul or item thet sald at $16 per unit Requlred: lo. Assuming the use of s perladit inventory system, campute Coat af Goods. Sold under esch method af Inventary sversge cost, FIFO, LIFO, and specific identificstion. For specific identificstion, assume that the first sale was selected from the beginning Inventary and the second ssle was seiected from the Januery 12 purchase. 16. Assuming the use of a perlodic inventory system, prepsre a parts income statement under eoch method of lnventory. (a) oversge cost, (b) FFFO, (c) LIFO, and (d) speclfic ldentfication. For specific Identification, assume that the first sale wos selected from the beginning lnventory end the second ssi w wss selected from the Jonusry 12 purchese. 2o. Between Fi=O snd LFO, which methad would resut in the higher pretsx income? 2b. Between FIFO and LFF, which would result in the higher EPG? 3. Between FIFO and LIFO, which method would result in the lawer income tox expence? Agsume a 20 percent averoge tox rste. 4. Between FIFO and LIFO, which method would produse the more fovoreble cash flow? Complete this question by entering your answers in the tabs below. Assuming the use af a periocic imentary system, compute Cost af Gooda Sold under each method of inventory: average cost, FIFO, UFO, and spectic identificotion. Far speatic identitication, assume that the first sale was selected from the beginning liwentary and the gecond sele was seletiad from the Janusy 12 purchase