Note: The blanks must fill in are for Goods Available for Sale, Ending Inventory, Cost of Goods Sold, Gross Margin, and Net Income. Must show your work.

FIFO $80,000 LIFO $80,000 Weighted Average $80,000 Sales revenue (4,000 units) Cost of goods sold: Beginning inventory (1,000 units @ $10 per unit) Purchases (5,000 units @ $12 10,000 10,000 10,000 per unit) 60,000 60,000 60,000 Goods available for sale Ending inventory (2,000 units) Cost of goods sold Gross margin Expenses Net income (pretax) a coco 20,000 20,000 20,000