Required information [The following information applies to the questions displayed below.] Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory (ending inventory December 31, prior year), 2,110 units at $36; purchases, 7,850 units at $38; expenses (excluding income taxes). $192,600; ending inventory per physical count at December 31, current year, 1,790 units; sales, 8,170 units; sales price pem unit, $78; and average income tax rate, 34 percent. Required: 1. Compute cost of goods sold and prepare income statements under the FIFO, LIFO, and average cost inventory costing metho- (Round your final answers to nearest whole dollar. Do not round your intermediate calculations.) Cost of Goods Sold Units FIFO Inventory Costing Method LIFO Average Cont Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Income Statement FIFO LIFO Average Cost