DONNER COMPANY Partial Income Statement For the Month Ended January 31, Current Year (a) (b) (c) (d) Average FIFO Specific LIFO Cost Identification $ 3,168 X $ 720 X $ 720 X $ 720 X $ 720 Sales revenue Cost of goods sold Gross profit ! Required information P7-3 (Algo) Evaluating Four Alternative Inventory Methods Based on Income and Cash Flow LO7-2, 7-3 [The following information applies to the questions displayed below.) At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $17.60 per unit: Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Units 660 630 190 (520) (200) Amount $3,168 4,284 1,672 DONNER COMPANY Partial Income Statement For the Month Ended January 31, Current Year (a) (b) (c) (d) Average FIFO Specific LIFO Cost Identification $ 3,168 X $ 720 X $ 720 X $ 720 X $ 720 Sales revenue Cost of goods sold Gross profit ! Required information P7-3 (Algo) Evaluating Four Alternative Inventory Methods Based on Income and Cash Flow LO7-2, 7-3 [The following information applies to the questions displayed below.) At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $17.60 per unit: Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Units 660 630 190 (520) (200) Amount $3,168 4,284 1,672