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During 2023, Fresh Express Company sold 2,450 units of its product on September 20 and 2,750 units on December 22 , all at a price
During 2023, Fresh Express Company sold 2,450 units of its product on September 20 and 2,750 units on December 22 , all at a price of $85 per unit. Incurting operating expenses of $18 per unit sold, it began the year with and made successive purchases of the product as follows: 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 pices 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 colculotions. Round your final onswers to 2 decimal places.)
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