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At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16.20 per unit:

Transactions	Units	Amount
Inventory, January 1	570	$	1,995
Purchase, January 12	550		3,025
Purchase, January 26	150		1,125
Sale	(430)
Sale	(200)

1a. 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. Assume that the company uses periodic inventory system. (Round unit price to 2 decimal places. Input all amounts as positive values.)

1b. Prepare a partial income statement under each method of inventory: (a) 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 Assume that the company uses periodic inventory system.

(Ignore numbers already in boxes)

erage Cost Cost of Good Available for Sale Cost of Goods Sold Cost of Goods | # of Units | Cost per Cost of Goode Sold cost per ofllnit UnitAvail lable Sold for Sale Beginning inventory 5 1,995 Purchases: January 12 January 26 5 3,025 5 1,125 1270 S 484S 8,145 150 Total 630 484 3,049 Cost of Goods Available for Sale Cost of Goods Sold Cost of Cost per Unit oods |#of Units | Cost per | Goods Cost of # of Units | | Available lable Sold Unit Sold for Sale Beginning inventory 570 350 1,995 430 3505 1,505 5.50 1.100 January 12 January 28 5.50 3,025 750 1,125 5 6,145 150 Total 270 830 2,805 Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods | # of Units | Cost per | Goods Cost of # of Units | Unit . | Available | Unit Goods Sold S for Sale Begi nning inventory 430 3.50150500 570 3.50 1,995 January 12 5.50 5.505 1,100 150 1,270 3,025.00 7.50 1,125.00 5 6,145 Total 5 2,605 Specific Identification Cost of Goods Available for Sale Cost of # of Units | Cost per | Goods for Sale Cost of Goods Sold Cost of # of Units l Costper | Gada. Sold Unit Available Sold Beginning inventory 570 3505 1.995 430 .501505 January 12 January 26 5.503,025 7501,125 5 6,145 5.50 1,100 150 1270 Total 5 2,605 1b. Prepare a partial income statement under each method of inventory: (a) average cost, (b) FIFO, ( Partial Income Statement For the Month Ended January 31, Current Year Specific Average CostFIFO LIFO Cost of goods sold 3,049 3 2605205 S 2,605

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