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Assume that a retailers beginning inventory and purchases of a popular item during January included...

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Accounting

Assume that a retailers beginning inventory and purchases of a popular item during January included (1)430 units at $8.30 in beginning inventory on January 1,(2)580 units at $9.30 purchased on January 8, and (3)880 units at $10.30 purchased on January 29. The company sold 480 units on January 12 and 680 units on January 30.
Required:
Calculate the cost of goods sold for the month of January under (a) FIFO (periodic calculation),(b) FIFO (perpetual calculation), and (c) LIFO (periodic calculation).
Which cost flow assumption and calculation approach would you recommend to management in order to save taxes?

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