FII (Clci the icon to vere the invintory reconds.) The compaiys accounting rocaids show 310 units were sod sar revendo of 54,900 Opecating oxpense for daruary was $1,000. Peand the indunemsints: cost per sent is thene decimal piaces and al other foures bo wholo-dollar amounts, Shew your computations Hegir by preparing the inconte stalement ieng LFO, then average, and finaly HFO cost sk my instructor 1. Prepare the company's January, multistep income statement. Calculate income using the LIFO, average-cost, and FIFO methods. Label the bottom line "Operating income." Round the average cost per unit to three decimal places and all other figures to whole-dollar amounts. Show your computations 2. Suppose you are the financial vice president of Nevada instruments. Which inventory method will you use if your motive is to a. minimize income taxes? b. report the highest operating income? c. report operating income between the extremes of FIFO and LIFO? d. report inventory on the balance sheet at the most current cost? e. attain the bost measure of net income for the income statement? State the reason for each of your answers