Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO Sales $2,700 $2,700 $2,700 $2,700 Cost of goods sold +/-11,025 +/-1923 +/-11,040 +/-1810 Gross profit +/-11,675 +/-11,777 +/-11,660 +/-11,890 Expenses 1,250 1,250 1,250 1,250 Income before taxes +/-1425 +/-1527 +/-1410 +/-1640 Income tax expense +/-1170 +/-1211 +/-1164 +/-1256 Net income +/-1$255 +/-1$316 +/-1$246 +/-1$384