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Ef.y (Aigo) tvaluating the Cnoice among Inree Aiternative inventory Metnoas tsased on Casn riow Effects LO7-2, 7.3 Folowing is pstiai information for the income statement of Audio Solutions Company under three different inventory costing methods, astuming the use of a periodic irvemory system: Aequiredt 1. Compute cost of goods soid under the FIFO, LIFO, and averape cost inventary costing methods. 2. Prepare an income statement through pretax income for each method, Saies. 324 units; unit sales price, $54; Expenses, $1,580 3. Rank the three methods in order of income taxes paid (fevorable cash flom). Complete this question by entering your answers in the tabs below. Compute cost of goods sold under the FIFO, UFF, and average cost imventory costing methods: Nute: Reond intermediate cakculaticiss to 2 decimal places. Round your answers to the nearest whole delfar amourt. Ef-y (AIgo) Evaruating the Lnoice among Inree Aiternative inventory metnoas basea on Casn riow Effects LO7-2, 7.3 Following is partial information for the income statement of Audio Solutions Company under three different inventory costing methods, assuming the use of a periodic inventory system: Required: 1. 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, 324 units; unit sales peice, \$54; Expenses, \$1,580 3. Rank the three methods in order of income taxes paid (favorable cash flom). Complete this question by entering your answers in the tabs below, Frepere an income statement through pretax income for each method. Seles, 324 units; unit sales price, $54; Expenses, $1,590 Note Use the COGS amount from Required 1

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