Courtney Company uses a periodic inventory system. The following data were available: beginning inventory, 1,800 units at $35; purchases, 4,200 units at $37; operating expenses (excluding income taxes), $97,500; ending inventory per physical count at December 31,1,350 units; sales price per unit, $70; and average income tax rate, 30%. 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 preferable in terms of maximizing income from operations, if costs are rising? 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 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. Complete the income statements and the cost of goods sold colculation under the flf O, LIFO, and weighted averoge costing methods. (Do not round intermediate calculations. Hound your final aniswers to the nearest dollar amount.) 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, LIFO, and weighted a methods. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) 1. Complete the income statements and the cost of goods sold calculation un weighted average costing methods. 2-a. Between FIFO and LIFO, which method is preferable in terms of maximizi costs are rising? 2-b. Between FIFO and LIFO, which method is preferable in terms of minimizin rising? 3-a. Between FIFO and LIFO, which method is preferable in terms of maximizin costs are falling? 3-b. Between FIFO and LIFO, which method is preferable in terms of minimizing falling? Complete this question by entering your answers in the tabs below. Between FIFO and LIFO, which method is preferable in terms of maximizing income from operations, if cos! 1. Complete the income statements and the cost of goods sold calculation weighted average costing methods. 2-a. Between FIFO and LIFO, which method is preferable in terms of maxi costs are rising? 2-b. Between FIFO and LIFO, which method is preferable in terms of minim rising? 3-a. Between FIFO and LIFO, which method is preferable in terms of maxim costs are falling? 3-b. Between FIFO and LIFO, which method is preferable in terms of minimi falling? Complete this question by entering your answers in the tabs below. 1. Complete the income statements and the cost of goods sold calculation under th weighted average costing methods. 2-a. Between FIFO and LIFO, which method is preferable in terms of maximizing inc costs are rising? 2-b. Between FIFO and LIFO, which method is preferable in terms of minimizing ince rising? 3-a. Between FIFO and LIFO, which method is preferable in terms of maximizing inc costs are falling? 3-b. Between FIFO and LIFO, which method is preferable in terms of minimizing inco falling? Complete this question by entering your answers in the tabs below. Between FIFO and LIFO, which method is preferable in terms of maximizing income from operations, if costs are 1. Complete the income statements and the cost of goods sold calculation under the weighted average costing methods. 2-a. Between FIFO and LIFO, which method is preferable in terms of maximizing incom costs are rising? 2-b. Between FIFO and LIFO, which method is preferable in terms of minimizing income rising? 3-a. Between FIFO and LIFO, which method is preferable in terms of maximizing income costs are falling? 3-b. Between FIFO and LIFO, which method is preferable in terms of minimizing income 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 falling