ben Requirements - x tage- Data Table pred Date Hem Jan Quantity 140 units 60 units 1 Beginning inventory 0 Purchase 21 Purchase 27 Purchase 1. Prepare the company's January, muliste Income statement Calculate income using the LIFO, average cost, and FIFO methods. Label the bottom line Operating income. Round the average cost per unit to three decimal places and all other figures to whole dolar amounts. Show your computation 2. Suppose you are the financial vice president of Arkansas instruments. Which Inventory method will you une if your motive is to minimize income tax? b.mport the highest operating income? e report operating income between the extremes of FIFO and LIFO! d. report inventory on the balance sheet at the most current cont? attain the best more of net income for the income statement? Slate the rest for ach of your answers 110 units Unit Coat Total Coat $ 8$ 840 12 720 52 1.320 19 700 eng 4 units ood Print Done ain Print Done Suppose e con of Man Instruments incorporated that is computer morochas estry records for Jawy 2021 lick the lo view inventorycords) The company's muring records pow 310 units are sold for event of $4.550. Operating expense for Jawy w $1.000 Read the Requirement. Prepare the company's January, multe income ment Cercontente en cont, and promos Label the buttore Openincem.Rount the cost per un to decine Bound all who do not show your compone Begin by preparing the room to the verge, and all Artana narut Incorpored Income Statement for Microchip Month Ended January 21, 2011 LIFO Average 1 4.50 Cost of goods and 3460 250 O 1.000 30