10.00 points QP Corp. sold 5,330 units of its product at $46.70 per unit in year 2015 and incurred operating expenses of $7.70 per unit in selling the units. It began the year with 770 units in inventory and made successive purchases of its product as follows. Jan. 1 Beginning inventory Feb. 20 Purchase May 16 Purchase Oct. 3 Purchase Dec. 11 Purchase 770 units $19.70 per unit 1,670 units$20.70 per unit 870 units $21.70 per unt 570 units $22.70 per unit 3.470 units$23.70 per unit Total 7.350 units Required 1. Prepare comparative income statements for the three inventory costing methods of FIFO, LIFO, and weighted average which includes a detailed cost of goods sold section as part of each statement. The company uses a periodic inventory system, and its income tax rate is 40%. (Round your average cost per unit to 2 decimal places.) OP CORP Income Statements Comparing FIFO, LIFO, and Weighted Average For Year Ended December 31, 2015 FIFO LIFO Sales Cost of goods sold: Inventory, Dec. 31, 2014 Cost of purchases Cost of goods available for sale Less: Inventory, Dec. 31, 2015 Cost of goods sold Gross profit Income before taxes Income taxes expense Net income