PB7-1 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 ts 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 $9 per unit. Unit CostUnits 260 (200) 310 (150) Total Cost Inventory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 $2.50 3.00 4.00 $650 930 220 Assuming that for Specific identfication method (item 1d) the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase. Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the following inventory costing methods: (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending Goods Available for Sale Cost of Goods Sold Weighted average cost$ b. First-in, first-out C. Last-in, first-out d. Specific identification 1,800 1,800 1,800 1,800 2-a. Of the four methods, which will result in the highest gross profit? Weighted average cost First-in, first-out O Last-in, first-out 2-b. Of the four methods, which will result in the lowest income taxes? Weighted average cost First-in, first-out Last-in, first-out