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During 2020, Fresh Express Company sold 2,410 units of its product on September 20 and 2,550 units on December 22, all at a price of

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During 2020, Fresh Express Company sold 2,410 units of its product on September 20 and 2,550 units on December 22, all at a price of $81 per unit. Incurring operating expenses of $11 per unit sold, It began the year with and made successive purchases of the product as follows: 510 units e$ 26 per unit January 1 beginning inventory Purchases: February 20 May 16 December 11 Total 1,410 units e$ 28 per unit 610 unita e$ 32 per unit 3,210 units e$ 33 per unit 5,740 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 the final answers to nearest dollar.) FRESH EXPRESS COMPANY Income Statement Comparing FIFO and Moving Weighted Average Inventory Costing Methods For Year Ended December 31, 2020 Moving Weighted FIFO Average Cost

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