explain please.

Inventory information for Part 311 of Seminole Corp. discloses the following information for the month of June June 1 Balance 300 units @ $11 June 10 Sold 200 units @ $25 June 11 Purchased 800 units @ $12 June 15 Sold 500 units ( $26 June 20 Purchased 500 units (@ $13 June 27 Sold 250 units @ $27 The company disclosed operating expense of $ 4500 and income tax rate of 40% Required: Prepare an income statement for the year, assuming that the company is following the Periodic Inventory system and use average, FIFO, LIFO for comparative purposes (round to two decimal places). LO # 4) Excel Paragraph B H