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Given the following data for UnitedHealth Group: beginning inventory $400,000, purchases $2,000,000, ending inventory $480,000, sales $3,200,000, and operating expenses $600,000, prepare the cost of

Given the following data for UnitedHealth Group: beginning inventory $400,000, purchases $2,000,000, ending inventory $480,000, sales $3,200,000, and operating expenses $600,000, prepare the cost of goods sold statement, income statement, and calculate the gross profit and net income for the year 2023. Discuss the implications of inventory valuation methods on the financial statements and profitability.

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