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. (Round intermediate calculations to 2 decimal places. Round your answers to the nearest whole dollar amount.)

	FIFO	LIFO	AVF COST
BEGINING INVENTORY (395 UNITS @ $27)	$10665	$10665	$10665
PURCHASES (469UNITS @ $ 35)	16415	16415	16415

2. Prepare an income statement through pretax income for each method.

Sales, 328 units; unit sales price, $53; Expenses, $1,640

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