Broadhead Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2:

The following information applies to the questions displayed below Broadhead Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2 Units Unit Cost 2,970 $ 11 Inventory, December 31, prior year For the current year Purchase, April 11 Purchase, June 1 Sales ($59 each) Operating expenses (excluding Income tax expense) 8,890 7,960 10,930 14 $194,000