[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 $17.20 per unit:

Transactions	Units	Amount
Inventory, January 1	580	$	2,958
Purchase, January 12	560		3,976
Purchase, January 26	160		1,456
Sale	(440)
Sale	(200)

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.

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 Sold Cost per Unit Cost of Goods Sold 580 $ 2,958 Beginning inventory Purchases: 560 $ 3,976 January 12 January 26 Total 160 $ 1,456 $ 8,390 1,300 $ 0 FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods # of Units Cost per Unit Available for Sale # of Units Sold Cost per Unit Cost of Goods Sold 580 $ 5.10 $ 2,958 580 $ 5.10 $ 2,958 Beginning inventory Purchases: 560 7.10 $ 3,976 60 7.10 $ 426 January 12 January 26 160 9.10 $ 1,456 0 Total 1,300 $ 8,390 640 $ 3,384 LIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Cost per Goods # of Units Unit Available for Sale # of Units Cost per Sold Unit Cost of Goods Sold 580 $ 5.10 $ 2,958 0 Beginning inventory Purchases: January 12 560 7.10 500 7.10 $ 3,550 January 26 160 9.10 $ 3,976.00 1,456.00 $ 8,390 160 9.10 $ 1,456 $ 5,006 Total 1,300 660 Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost of Cost of Cost per Goods # of Units Cost per # of Units Unit Available Sold Unit Goods Sold for Sale 580 $ 5.10 $ 2,958 580 5.10 $ 2,958 Beginning inventory Purchases: 560 7.10 $ 3,976 560 7.10 $ 3,976 January 12 January 26 160 9.10 $ 1,456 160 9.10 $ 1,456 Total 1,300 $ 8,390 1300 $ 8,390 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