Monitor Industries, Inc., completed the following inventory transactions during the month of March:

Requirements
1. Without resorting to calculations, determine which inventory method will result in Monitor Industries, Inc., paying the lowest income taxes.
2. Prepare a perpetual inventory record using FIFO.
3. Prepare a perpetual inventory record using LIFO.
4. Prepare a perpetual inventory record using average cost. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar?

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Unit Cost Item Balance Date Quantity Mar 1 4 Purchase 12 Sale 22 Purchase 31 Sale 25 60 75 28 20 $85 $90