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 Inventory system. Assume its accounting records provided the following Information at the end of the accounting period, January 31. The inventory's selling price is $8 per unit Unit Cont 52.00 Transaction Inventory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 Units total cost 200 $ 400 (140) 250 625 (100) 50 175 2.50 3.50 ences Required: 1. Compute the amount of goods avollable for sale, ending Inventory and cost of goods sold at January 31 under each of the following Inventory costing methods: o Weighted average cost. b. First in, first-out c. Last-in, first-out 4. Specific identification, assuming that the January 10 sole was from the beginning Inventory and the January 17 sale was from the January 12 purchase 2-a. Of the four methods, which will result in the highest gross pront? 2.b. Of the four methods, which will result in the lowest Income taxes? c. Last-In, first-out. d. Specific Identification, assuming that the January 10 sale was from the beginning Inventory and the January 17 sale was from the January 12 purchase. 2-a. Of the four methods, which will result in the highest gross profit? 2-b. Of the four methods, which will result in the lowest Income taxes? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Compute the amount of goods available for sale, ending Inventory, and cost of goods sold at January 31 under each of the Inventory costing methods. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Amount of Goods Avallable for Sale Ending Inventory Cont of Goods Sold 1. Welghted average cont b. First in, fir tout ..Lost-in. fine-out d. Specific identification 4,000 4,000 $ 4,000 4,000 700 5 $ $ $ 525 Req2A > Req 1 Req 2A Reg 2B of the four methods, which will result in the highest gross profit? Oweighted average cost First-in, first-out OLast-in, first-out Specific identification