Income Statement-Absorption Costing For the first month of operations Sales $999000 Cost of goods sold Beginning inventory Add : Costs of goods manufactured Goods available for sale Less : Ending inventory Selling and administrative expenses Less Fixed costs Operating income $ $362600 Coronado Products manufactures and sells a variety of camping products. Recently the company opened a new factory to manufacture a deluxe portable cooking unit. Cost and sales data for the first month of operation are shown below: e portable cooking unit sells for $111. Management is interested in the opening month's results and has asked for an income statement