E$7\mathrm{.}9($Algo$)$ Evaluating the Cholce among Three Alternative Inventory Methods Based on Cash Flow

Effects LO$7-2,7\mathrm{.}3$

Following is partlal Information for the income statement of Audlo Solutlons Company under three different Inventory costing methods,

assuming the use of a perlodic Inventory system:

Required:

Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods.

$2$ Prepare an income statement through pretax Income for each method.

Sales, $328$ units; unit sales price, $$51$; Expenses, $$1,520$

Rank the three methods In order of Income taxes pald $($favorable cash flow$).$

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods.

Note: Round intermediate calculations to $2$ decimal places, Round your answers to the nearest whole dollar amount.