During 2017, Fresh Express Company sold 2,540 units of its product on September 20 and 3,200 units on December 22, all at a price of $94 per unit. Incurring operating expenses of $18 per unit sold, it began the year with and made successive purchases of the product as follows:

January 1 beginning inventory	640	units	@	$	39	per unit
Purchases:
February 20	1,540	units	@	$	41	per unit
May 16	740	units	@	$	45	per unit
December 11	3,340	units	@	$	46	per unit
Total	6,260	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. Round your intermediate calculations and 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, 2017
	FIFO	Moving Weighted Average Cost
Sales
Cost of goods sold
Gross profit
Operating expenses
Profit