Required information [The following information applies to the questions displayed below.) At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $15.00 per unit: Units 500 Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Amount $2,500 4,340 900 620 100 (380) (210) 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. 1b. 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 entering your answers in the tabs below. Req 1A Reg 1B 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. (Round unit price to 2 decimal places. Input all Show more Average Cost Cost of Goods Sold Cost of Good Available for Sale Cost of Cost per Goods # of Units Unit Available for Sale # of Units Cost per Sold Unit Cost of Goods Sold Beginning inventory Purchases: January 12 January 26 Total $ 0 FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Cost per Goods # of Units Available for Sale # of Units Cost per Sold Unit Unit Cost of Goods Sold $ 0 Beginning inventory Purchases: January 12 January 26 $ 0 Total 0 0 LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per # of Units Cost of Goods Available for Sale # of Units Sold Cost per Unit Cost of Goods Sold Unit Beginning inventory Purchases: January 12 January 26 Total 0 Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost per Unit Cost per # of Units Cost of Goods Available for Sale # of Units Sold Cost of Goods Sold Unit Beginning inventory Purchases: January 12 January 26 Total 0 0 Req 1A Req 1B > 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. 1b. 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 entering your answers in the tabs below. Req 1A Req 1B 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. DONNER COMPANY Partial Income Statement For the Month Ended January 31, Current Year (a) (b) (c) (d) Specific Identification Average Cost FIFO LIFO