Courtney Company uses a periodic inventory system. The following data were availoble; beginning inventory, 1,700 un is at $35. burchases, 3,300 units at $40; operating expenses (excluding income taxes), $95,000; ending inventory pet physicai count of December 31,1,100 units; sales price per unit, 585 ; and average inconve tax tate, 30% Required: 1. Complete the income statements and the cost of goods sold calculation under the FFFO, LIFO, and weighted overage costing methods. 2-a. Between FFO and LIFO, which method is preferable in terms of maximizing income from operations, if costs atic itivis 2.b. Between FIFO and LIFO, which method is preferable in terms of minimizing income taxes, if costs are rising? 3-a. Between FIFO and LIFO, which method is preferable in tems of maximizing income fram operations, if cossts are hilling? 3-b. Between FFFO and LIFO, which method is preferoble in terms of minimizing income taxes. if costs are falling? Complete this question by entering your answers in the tabs below. Complete the income statements and the cost of goods sold calculation under the FiFO, tho, and weighted avorage costing methods. (Do not round intermediate calculations. Round your final answers to the megrest dollar aineunt: Required 1. Complese the income statements and the cost of goods soid colculation ander the FLO, LiFQ, ant weighted aveiage costing miethed 2. Between FFFO and UFO. which methed in prefecable in terms of maximining income from opeations, if cots are risho? 2.b. Between FIFO and LiFo, which methed is prelesbie in tems of minimizing inconte tases, if costs are ining? 3-4. Between FIFO and LIFO, which method is prefeiable in terms of osaxowing incont tom operations, it costs are faling? Complete this question by entering your answers in the tabs belaw. Courtney Company uses o periodic ifventory system. The following dato were avallable. beginning inventory, 1700 units at $35; purchases, 3,300 units at $40; operating expenses (excluding income taxes), $95,000; ending inventory per physical count at December 31, 1,100 units; sales price per unit, $85; and averoge income tax rate, 30t. Required: 1. Complete the income statements and the cost of goods soid calculation under the FiFO, LIFO, and weighted average colfity methods 2. B. Between FIFO and LFFO, which method is preferable in terms of maximizing income from operations, it costs ore risiba? 2.b. Between FIFO and LIFO, which method is preferable in terms of minimizing inconve toxes, f costs are rising? 3-a. Between FIFO and LIFO, which method is prefereble in terms of maximizing income from operations, if costs are falling? 3.b. Between FIFO and LIFO, which method is preferable in terms of minimizing income taxes, if costs are falling? Complete this question by entering your answers in the tabs below. Between FIFO and LIFO, which method is preferable in terms of minimizing income taxes, if costs are rising? Courthey Compony uses a periodic inventory system. The foliowing data were avallable: beginning imventory, 1,700 units ot $15 purchases, 3,300 units at \$40; operating expenses (excluding income taxes), $95.000, ending inventory per physical count at December 31,1,100 units; soles price per unit, $85; and averoge income tox rate, 30% Required: 1. Complete the income statements and the cost of goods sold calculation under the FIFO. LIFO, and weighted overage coiling methods. 2.a. Between FIFO and LIFO, which method is preferable in terms of maximizing income from operations, if costs afe rising? 2.b. Between FIFO and LIFO, which method is preferable in terms of minimizing income texes, if costs are rising? 3-a. Between FIFO and LIFO, which method is prefernble in terms of maximizing income from operations, if costs are to tinid? 3.b. Between FFFO and LFO, which method is preferable in terms of minimizing income toxes. if costs are faling? Complete this question by entering your answers in the tabs below. Between FIFO and L.tFO, which method is preferable in terms of maximizing income from operations, if costs are faliing? Courtney Company uses a periodic inventory system. The following data were avaliable begining inventory, 1,700 units at $35; purchases, 3,300 units at \$40; operating expenses (excluding income taves). $95,000; ending inventory per physical count at December 31, 1,100 units: saies ptice per unit $85, and average income tax tote, 301h. Required: 1. Complete the income statements and the cost of goods sold calculation under the FIFO, LiFO. and weighted average costing methods. 2-a. Between FIFO and LIFO, which method is prelerable in terms of maximizing income from operations, if costs are tising? 2-b. Between FIFO and LFFO, which method is preferabie in terms of minimizing income taxes, if costs are rising? 3-0. Between FIFO ond LIFO. which method is preferable in temms of moximizing income from operations, if costs ore folling? 3-b. Between FIFO and LFO. Which method is preferable in terms of minimizing income taxes, if costs are falling? Complete this question by entering your answers in the tabs below. Between FIFO and LFO., which method is preferable in torms of minimizing income taxes, if costs are falling