1,017 12 H Learning Objectives 1 2 Prepare a partial income statement using different inventory costing methods Requirements 1. Prepare a partial income statement through gross profit under the weighted-average-cost and FIFO cost methods assuming the periodic system is used. Round weighted-average cost per unit to four decimal places and all other amounts to the nearest dollar. 2. Which inventory method would you use to report the highest net income? Explain why this method produces the highest reported income. B N W X MacBook Air L < 272 /694 >>