Required information [The following information applies to the questions displayed below.] Daniel Company uses a periodic inventory system. Data for 2015: beginning merchandise inventory (December 31, 2014), 2,080 units at $37; purchases, 7,900 units at $39; expenses (excluding income taxes), \$192,500; ending inventory per physical count at December 31, 2015, 1,700; sales, 8,280 units; sales price per unit, $75; and average income tax rate, 33 percent. Required: 1. Compute cost of goods sold and prepare income statements under the FIFO, LIFO, and average cost inventory costing methods. (Do not round your intermediate calculations.)