Courtney Company uses a periodic inventory system. The following data was available: beginning merchandise inventory, $1,200$ units at $$25$; purchases, $4,800$ units at $$30$; operating expenses $($excluding income taxes$),$ $$93,300$; ending inventory per physical count at December $31,1,000$ units; sales price per unit, $$70$; and average income tax rate, $30$ percent.

Required:

$1.$ Prepare income statements under the FIFO and weighted average costing methods. $($Do not round Weighted average cost per unit. Round your final answers to the nearest dollar amount.$)$

$2-$a$.$ Which method is preferable in terms of maximizing income from operations?

multiple choice $1$

FIFO

Weighted Average

LIFO

$2-$b$.$ Which method is preferable in terms of minimizing income taxes?

multiple choice $2$

FIFO

Weighted Average

LIFO

$3.$ This part of the question is not part of your Connect assignment.