Following is partial information for the income statement of Arturo Technologies Company under three different inventory co methods, assuming the use of a periodic inventory system: Required: 1. Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods. 2. Prepare an income statement through pretax income for each method. Sales, 650 units; unit sales price, $60; Expenses, $1,900 3. Rank the three methods in order of preference based on income taxes paid (favorable cash flow). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods. FIFO LIFO Average Cost Cost of goods sold Beginning inventory (800 units $30) $ 24,000 $24,000 $ 24,000 Purchases (800 units @$10) 8,000 8,000 8,000 Goods available for sale Ending inventory (950 units) Cost of goods sold Required 1 Required 2 >