Inventory Methods: Oxford Company reported the following current-month purchases and sales of a single product. Purchases at cost Sales at retail 1/1 Beginning inventory 20 units@ $20 each 1/10 20 units@ $49 1/5 Purchases 10 units@ $24 each 1/25 15 units@ $50 1/20 Purchases 15 units@$26 each 1/22 Purchases 5 units@ $30 each Required: a. Calculate both the cost of goods sold and ending inventory using (1) FIFO, (2) LIFO and (3) Average Cost flow methods. b. Prepare a Multiple-step Income Statement for the company using the following assumptions: 1. The company has a month end of January 31, 2021 2. The company used the FIFO method for computing Cost of Good Sold (COGS) 3. Operating expenses for the month are $210 for Utilities Expense and $500 for Rent Expense