Inventory Determined by				Cost of Goods Sold Determined by
Date		LIFO Method		FIFO Method		LIFO Method		FIFO Method
January 1, 2018		$ 0		$ 0		$ 0		$ 0
December 31, 2018		90		8		850		932
December 31, 2019		190		270		910		748
December 31, 2020		300		420		1,060		1,020

Retained earnings reported under LIFO are as follows.

		Retained Earnings Balance
December 31, 2018		$1,040
December 31, 2019		2,020
December 31, 2020		2,850

Other information:

1.		For each year presented, sales are $2,800 and operating expenses are $910.
2.		Wildhorse provides two years of financial statements. Earnings per share information is not required.

Prepare income statements under LIFO for 2018, 2019, and 2020.

Prepare income statements under FIFO for 2018, 2019, and 2020

Prepare income statements reflecting the retrospective application of the accounting change from the LIFO method to the FIFO method for 2020 and 2019.

Prepare comparative retained earnings statements for 2019 and 2020 under FIFO.