Daniel Company uses a periodic inventory system. Data for 2015: beginning merchandise inventory (December 31, 2014), 2,020 units at $37; purchases, 7,970 units at $39; expenses (excluding income taxes), $193,900; ending inventory per physical count at December 31, 2015, 1,700; sales, 8,290 units; sales price per unit, $79; and average income tax rate, 32 percent. 5.value: 10.00 pointsRequired information Required: 1. Compute cost of goods sold and prepare income statements under the FIFO, LIFO, and average cost inventory costing methods. (Do not round your intermediate calculations.)