Miles Company, a new start up retail company, has the following inventory transactions during the month of January: Date January 2 January3 January8 January 21 January 30 Transaction Purchase Sale Purchase Sale Purchase Units 50 32 75 60 20 Unit Cost Unit Selling Price $25 $30 $14 $20 $22 The CFO is currently working on setting the inventory accounting policy for the startup company and has asked your assistance in providing information on the various inventory methodologies under GAAP. Required: Prepare individual schedules showing the calculation of cost of goods sold and ending inventory under the following inventory cost flow methodologies: 1. a. FIFO, periodic b. FIFO, perpetual c. LIFO, periodic d. LIFO, perpetual Weighted average method, round the average cost per unit to 2 decimal places. Moving average method, round the average cost per unit to 2 decimal places. e. f. 2. Prepare a schedule that compares the income statements using the methodologies in number 1 above, assuming that operating expenses for the month of January are $1,000 and the income tax rate is 35%. (You do not need to show earnings per share information)