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During 2 0 2 3 , Fresh Express Company sold 2 , 5 9 0 units of its product on September 2 0 and 3
During Fresh Express Company sold units of its product on September and units on December all at a price of $ per unit. Incurring operating expenses of $ per unit sold, it began the year with and made successive purchases of the product as follows:
tableJanuary beginning inventory,units,@$per unittablePurchases:February May tabletabletableunitsunitstable@$tableper unitper unitDecember units,@$per unitTotalunits,,
Required:
Prepare a comparative income statement for the company, showing in adjacent columns the profits earned from the sale of the product, assuming the company uses a periodic inventory costing system and prices its ending inventory on the basis of a FIFO and b Moving weighted average: Round "average cost per unit" to decimal places. Do not round intermediate calculations. Round your final answers to decimal places.
tableFRESH EXPRESS COMPANYIncome Statement Comparing FIFO andFor Yoving Weighted Average Inventory Costing Methods
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