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: 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, 324 units; unit sales price, $53; Expenses, $1,550 3. Rank the three methods in order of income taxes paid (favorable cash flow).