CO.P HAS BEGINNING INVENTORY OF $1,191.80 (101.00 UNITS @ $11.80 PER UNIT). OVER THE FISCAL YEAR, CO. P PURCHASES 1,070 FLASH DRIVES FROM CO.S FOR A TOTAL COST OF $15,796.55 (SEE EXHIBIT 1). A PHYSICAL COUNT OF THE INVENTORY AT FYE INDICATES THAT CO.S SOLD 578 FLASH DRIVES (ALL SALES TOOK PLACE ON 10/30/20) AND THERE ARE 593 UNITS IN INVENTORY AT FISCAL YEAR END. CO.P USES A PERPETUAL INVENTORY QUESTIONS 1) WHAT IS CGS AND ENDING INVENTORY UNDER FIFO, LIFO AND AVERAGE COST? SHOW ALL CALCULATIONS 2) ASSUME CO.P SELLS THE 578 FLASH DRIVES FOR $16,762; INCURS $1,675 IN SGA EXPENSES. THE FIRMS MARGINAL CORPORATE TAX RATE IS 21.00%. BASED ON THIS INFORMATION, CREATE AN INCOME STATEMENT FOR ALL THREE SCENARIOS? EXHIBIT 1: BICYCLE INVENTORY UNIT DATE EVENT 1/1/2020 INVBB UNIT COST 11.80$ TOTAL COST 1,191.80 101.00 $ 4/15/2020 PURCHASES 8/24/2020 PURCHASES 10/24/2020 PURCHASES 12/30/2020 PURCHASES 145.00 $ 205.00 $ 290.00 $ 430.00 $ 1,070.00 $ 12.89 $ 1,869.05 13.76 $ 2,820.80 14.99 $ 4,347.10 15.72 $ 6.759.60 15,796.55 $ 16,988.35