Inventory Costing Methods Tyler Company has the following information related to purchases and sales of one of its inventory items. Assume Tyler uses a perpetual inventory system. Required: Calculate ending inventory and cost of goods sold using the FIFO, LIFO, and average cost methods. 2. Which inventory costing method produces the highest amount for net income? 3. Which inventory costing method produces the lowest amount for taxes? 4. Which inventory costing method produces the highest amount for ending inventory