Required information P7-3 (Algo) Evaluating Four Alternative Inventory Methods Based on Income and Cash Flow L07-2, 7-3 (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 $17.40 per unit: Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Units 620 600 150 (480) (200) Amount $3,255 4,200 1.350 P7-3 Part 1 Required: 1a. Assuming the use of a periodic Inventory system, compute Cost of Goods Sold under ench 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: () 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. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Assuming the use of a periodic inventory system prepare a partial income statement under each method of inventory: (a) average cost, (b) FIFO, () 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 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 16. Assuming the use of a periodic inventory system, prepare a partial income statement under each method of inventory (o) 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 Complete this question by entering your answers in the tabs below. Reg 1 Reg 13 Assuming the use of a periodic inventory system, prepare a partial income statement under each method of inventory (0) 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 Dinuary 31. Current Year (a) (b) ch (d) Average Cost FIFO LIFO Specific Identification Required information P7-3 (Algo) Evaluating Four Alternative Inventory Methods Based on Income and Cash Flow L07-2,7-3 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 $17.40 per unit: Transaction Inventory. Jangay 1 Purchase. January 12 Furobase, January 26 Sale Sale Unit 620 600 150 (480) (200) Amount $3,255 4,200 1.350 P7-3 Part 2 2a. Between FIFO or LIFO, which method would result in the higher pretax income? 2b. Between FIFO or LIFO, which would result in the higher EP5? Complete this question by entering your answers in the tabs below. Reg 2A Reg 28 Between FIFO OF LIFO, which would result in the higher EPS? Method