Courtney Company uses a periodic inventory system. The following data were available: beginning inventory, 1,100 units at $25; purchases, 3,300 units at $35; operating expenses (excluding income taxes), $92,000; ending inventory per points physical count at December 31, 800 units; sales price per unit, $80; and average income tax rate, 30%. Skipped Required: 1. Prepare income statements under the FIFO, LIFO, and weighted average eBook costing methods. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Hint Inventory Costing Referens Method Income Units FIFO LIFO Weight Statement Averag Sales Revenue Cost of Goods Sold* Gross Profit 1000 Operating Expenses Income from | Operations Income Tax Expense Net Income $ 0 $ 0 $ 0 ... Weight 2-a. Between FIFO and LIFO, which method is preferable in terms of maximizing income from operations, if costs are rising? LIFO FIFO 2-b. Between FIFO and LIFO, which method is preferable in terms of minimizing income taxes, if costs are rising? LIFO FIFO 3-a. Between FIFO and LIFO, which method is preferable in terms of maximizing income from operations, if costs are falling? LIFO FIFO 3-b. Between FIFO and LIFO, which method is preferable in terms of minimizing income taxes, if costs are falling? LIFO FIFO