Homework: CH06-GRADED HOMEWORK - SINGLE ATTEMPT Save Score: 0 of 1 pt 2 of 5 (4 complete) HW Score: 69.31%, 3.47 of 5 pts 6MID_summary (similar to) Question Help Suppose a division of Denver Instruments incorporated that sells computer microchips has these inventory records for January 2018: (Click the icon to view the inventory records.) The company's accounting records show 450 units were sold for revenue of $10,800. Operating expense for January was $1,000 Read the requirements Requirement 1. Prepare the company's January, multiste income statement. Calculate income using the LIFO, average-cost, and FIFO methods. Label the bottom line Operating income." Round the average cost per unit to three decimal places and all other figures to whole-dollar amounts. Show your computations Begin by preparing the income statement using LIFO, then average, and finally FIFO cost Denver Instruments Incorporated Income Statement for Microchip Data Table Month Ended January 31, 2018 LIFO Sales revenue 10000 Date Item Quantity Unit Cost Total Cost Cost of goods sold Jan 1 Beginning inventory 180 units $ 15 $ 2,700 Gross profit 6 Purchase 70 units 17 1,190 in Operating expenses 1000 21 Purchase 200 units 17 3,400 Operating income 27 Purchase 90 units 18 1,620 Enter any number in the edit fields and then click Check Answe Print Done 7 Parts remaining Clear All Check