Following is partial Information for the income statement of Audio Solutions Company under three different inventory costing methods,

assuming the use of a periodic inventory system:

Required:

Compute cost of goods sold under the FIFO, LIFO, and average cost Inventory costing methods.

Prepare an income statement through pretax income for each method.

Sales, $311$ units; unit sales price, $$53$; Expenses, $$1,610$

Rank the three methods in order of income taxes paid $($favorable cash flow$).$

Complete this question by entering your answers in the tabs below.

Required $2$

Required $3$

Rank the three methods in order of income taxes paid $($favorable cash flow$).($is this answer correct, thank you for your help$)$