HW 07B with Hints Swed 1 1 PB7-1 Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System (LO 7. 3] 25 coins Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventary system. Assume its accounting records provided the following information at the end of the accounting period, January 31. The inventory's selling price is $12 per unit. Transactions Unit Cost Units Total cost Inventory, January 1 $4.00 190 Sale, January 10 (170) Purchase, January 12 1.080 Sale, January 12 (120) Purchase, January 20 $ 700 4.50 240 P. 5.50 70 385 Deferences Assume that for Specific identification method the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the following Inventory costing methods (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Amount of Goods Available for Sale Erding Invertory Cost of Goods Som Weighted average Festito 1 inventory cosung merogs: (nouna your intermediate calculations to 2 decimai praces and mina answers to the nearest collar amount.) 25 Amount of Goods Available for Sale Ending Inventory Cost of Goods Sold points a Weighted average cost Firstin, first out Lastin, fest out a. Specific identification ebook Prine Retences 2-a. Of the four methods, which will result in the highest gross profit? Weighted average cost Flestin, first-out Last-in, first-out Specific identification 2-b.or the four methods, which will result in the lowest income taxes Weighted average cost Fistin, fiest-out La Test out Specific identification