PB7-1 (Algo) Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System [LO 7-3] 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 $15 per unit Unit Cost $5.50 Total Cost $1,375 Transactions Inventory, January 1 Sale, January 10 Purchase. January 12 Sale, January 17 Purchase, January 26 Units 250 (200) 380 (150) 25 6.00 1,800 7.00 525 Required: 1. Compute the amount of goods available for sale, ending Inventory, and cost of goods sold at January 31 under each of the following Inventory costing methods: o. Welghted average cost. b. First-in, first out 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. Prey 1 of 3 !!! Next > Complete this question by entering your answers in the tabs below. Reg 1 Req ZA 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 Available for Sale Ending Inventory Cost of Goods Sold a Weighted average cost b. First-in, first-out c Last-in, first-out d. Specific identification 1 155 Ron Reg 2A > Complete this question by entering your answers in the tabs below. es Reg 1 Reg 2A Reg 28 of the four methods, which will result in the highest gross profit? Weighted average cost OFirst-n, first out Olast in first out Specific entification ( Req1 Req 28 > Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 of the four methods, which will result in the lowest income taxes? Weighted average cost OFirst in first out Olast.in, first-out Specific dentification