X LO5.6.7 Problem 5-12A Inventory Costing we Story Company's inventory records for the month of November reveal the following: Inventory. November 1 300 units @ $27.00 November 4, purchase 375 units @ $26.50 November 7. sale 450 units @ $63.00 November 13, purchase 330 units @ $26.00 November 18, purchase 225 units @ $25.40 November 22, solo 570 units @ $63.75 November 24, purchase 300 units @ $25.00 November 28, solo 165 units @ $64.50 Selling and administrative expenses for the month were $16,200. Depreciation expense was $6,000. Story's tax rate is 35%. Required 1. Calculate the cost of goods sold and ending inventory under each of the following three meth ods assuming a periodic inventory system: (a) FIFO,(b) LIFO, and (c) weighted average. 2. Calculate the gross profit and net income under each costing assumption. 3. Under which costing method will Story pay the least taxes? Explain your