Comparison of Inventory Costing Methods-Periodic System Bitten Company's inventory records show 599 units on hand on October 1 with a unit cost of $5 each. The following transactions occurred during the mi All expenses other than cost of goods sold amount to 52,989 for the month. The company uses an estimated tax rate of 30% to accrue monthly income ta Required: 1. Prepare a chart comparing cost of goods sold and ending inventory using the periodic system and the following costing methods. In your calculations re average unit-cost to three decimal places and round all other calculations and your final answers to the nearest doliac: 3. Prepare income statements for each of the three methods. When required, round your answers to the nearest dollar. Feedteck Be sure to wse the relevant information from (1) in your income statement. Review the parts of a multigle step income statement. 4. Will the company pay more or less tax if it uses FIFO rather than L1FO? How much more or less? Comparison of Inventory Costing Methods-Periodic System Bitten Company's inventory records show 599 units on hand on October 1 with a unit cost of $5 each. The following transactions occurred during the mi All expenses other than cost of goods sold amount to 52,989 for the month. The company uses an estimated tax rate of 30% to accrue monthly income ta Required: 1. Prepare a chart comparing cost of goods sold and ending inventory using the periodic system and the following costing methods. In your calculations re average unit-cost to three decimal places and round all other calculations and your final answers to the nearest doliac: 3. Prepare income statements for each of the three methods. When required, round your answers to the nearest dollar. Feedteck Be sure to wse the relevant information from (1) in your income statement. Review the parts of a multigle step income statement. 4. Will the company pay more or less tax if it uses FIFO rather than L1FO? How much more or less