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At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16.40 per unit:

Transactions	Units	Amount
Inventory, January 1	610	$	2,135
Purchase, January 12	590		3,245
Purchase, January 26	190		1,425
Sale	(470)
Sale	(200)

Required:

1a. 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. Assume that the company uses periodic inventory system. (Round unit price to 2 decimal places. Input all amounts as positive values.)

1b. 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 Assume that the company uses periodic inventory system.

Average Cost Cost of Good Available for Sale Cost of Goods Sold Cost per # of Units Cost per Unit Cost of Goods Available for Sale # of Units Sold Cost of Goods Sold Unit Beginning inventory Purchases: January 12 January 26 Total FIFO Cost of Goods Available for Sale Cost of Goods Sold # of Units Cost per Unit Cost of Goods Available for Sale # of Units Sold Cost per Unit Cost of Goods Sold Beginning inventory Purchases: January 12 January 26 Total LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per # of Units Cost per Unit Cost of Goods Available for Sale # of Units Sold Cost of Goods Sold Unit Beginning inventory Purchases: January 12 January 26 Total Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost per # of Units Cost of Goods Available for Sale # of Units Sold Cost of Goods Sold Unit Unit Beginning inventory Purchases: January 12 January 26 Total DONNER COMPANY Partial Income Statement For the Month Ended January 31, Current Year (a) (b) (c) (d) Specific Identification Average Cost FIFO LIFO