Following is partial information for the income statement of Madyn Technologies Company under three different inventory costing methods, assuming the use of a periodic inventory system: Required: 1. Compute Madyn's 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, 150 units; unit sales price, $70; Expenses, $800 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 Requited 2 Required 3 Prepare an income statement through pretax income for each method. Sales, 150 units; unit sales price, $70; Expenses, $800 FIFO LIFO Average Cost