I. Tamarack Co. had the following information regarding its inventory flows during 2010. Date Transaction Unit cost/price January 1 Beginning inventory 150 units $4.00 January 5 Sold 100 units $7.00 February 7 Purchased 200 units $4.20 March 9 Sold 150 units $7.00 July 11 Purchased 200 units $4.40 September 17 Sold 220 units $7.00 November 22 Purchased 250 units $4.80 December 29 Sold 100 units $7.00 Required: 1. Compute the companys (1) cost of goods sold and (2) ending inventory under (a) FIFO periodic inventory system, (b) LIFO periodic inventory system, and (c) LIFO perpetual inventory system. 2. Compare the impact of the abovementioned three inventory system and cost flow assumptions. In particular, which method would result in a higher net income? A higher ending inventory? A lower income tax expense? Briefly explain why.