1.	Please help with this accounting assignment.There are (2) questions P6-61A (book/static) and P6-62A (book/static) Prepare a partial income statement through gross profit under the average, FIFO, and LIFO methods. Round average cost per unit to four decimal places and all other amounts to the nearest whole dollar.
2.	Which inventory method would you use to minimize income tax? Explain why this method causes income tax to be the lowest.

Requirement 1. Prepare a partial income statement through gross profit under the average, FIFO, and LIFO methods. Round average cost per unit to four decimal places and all other amounts to the nearest whole dollar.

Inventory
Aug	1	Balance	720	units	@	$7.10	$5,112
Nov	5	Purchase	400	units	@	$7.20	2,880
Jan	24	Purchase	8,420	units	@	$7.60	63,992
Apr	8	Purchase	480	units	@	$8.60	4,128
Sales Revenue
				Jul 31 9,050 units $127,605

	Lindbergh Aviation
	Partial Income Statement
	Year Ended July 31
		Gross profit