P7.3 (Algo) Evaluating Four Alternative Inventory Methods Based on Income and Cash Flow LO7.2, 7.3 [The following information applies to the questions displayed below.] At the end of January of the current year, the records of Donner Compariy showed the following for a particular item that sold at $18.80 per unit: P7-3 Part 1 Required: 1a. Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 16. Assuming the use of a periodic inventory system, prepare a partial income statement under each method of inventory: (a) average cost, (b) FIFO, (c) LIFO, and (d) specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. Complete this question by enterino your answers in the tabs bolow. Assuming the use of a periodic inventory system, compute Cost of Goods 50 ld under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. (Round unit price to 2 decimal places. Input all amounts as positive values.) Requirod information Complete this questlon by enteitng your answers in the tabs below. Assuming the use of a pertodic inventory system, prepare a portial income statement under each method of inventory: (o) average cost, (b) FIFO, (c) LIFO, and (d) specine identification. For specfic identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase