During $2023,$ Fresh Express Company sold $2,480$ units of its product on September $20$ and $2,900$ units on December $22,$ all at a price of $$88$ per unit. Incurring operating expenses of $$13$ per unit sold, it began the year with and made successive purchases of the product as follows:

$\backslash$table$[[$January $1,$beginning inventory,$580,$units,@$$33,$per,unit$],[$Purchases:$],[$February$,20,1,480,$units,@$$35,$per,unit$],[$May $16,,680,$units,@$$39,$per,unit$],[$December$,11,3,280,$units,@$$40,$per,unit$],[$Total$,,6,020,$units,,,$]]$

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 perpetual inventory system and prices its ending inventory on the basis of $($a$)$ FIFO and $($b$)$ Moving weighted average: $($Round "Cost per unit" to $2$ decimal places. Do not round intermediate calculations. Round your final answers to $2$ decimal places.$)$

FRESH EXPRESS COMPANY

Income Statement Comparing FIFO and

Moving Weighted Average Inventory Costing Methods

For Year Ended December $31,2023$

FIFO

Moving Weighted

Average

Cost