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aneed help filling out the rest of the income statement Mirary Surplus began October 2018 with 100 stoves that cost $10 each. During the month,

aneed help filling out the rest of the income statement
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Mirary Surplus began October 2018 with 100 stoves that cost $10 each. During the month, the company made the following purchases at cost: III (Click the icon to view the purchasen.) The company sold 334 stoves, and at Ociober 31, the ending inventory consisted of 46 stoves. The sales price of each stove was $55. Requirement 2. Explain why cout of goods sold is highest under LIFO. Be specfic Under LiFO the cost of goode sold is the highest because costs are and UFO assigns the to cost of goods sold Pequirement 2: Prepare Matary Surplus' inoome statement for October. Aepor gross profit Operating eapenses todaled \$3, oco The conpany uses aresage costing for inventory The income tar rate is 40%. Flound inconte tax expente to the nearest whole dodic) Data table

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