On April $30,$ the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept:

Joplin Company

Absorption Costing Income Statement

For the Month Ended April $30$

$\backslash$table$[[$Sales units$),,$$$150,500$

On April $30,$ the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept:

Joplin Company

Absorption Costing Income Statement

For the Month Ended April $30$

Sales units$)$

$$150,500$

Cost of goods sold:

$\backslash$table$[[$Cost of goods manufactured units$),$$$127,500,],[$Inventory$,$ April $30(700$ units$),(17,500),],[$Total cost of goods sold,,$(110,000)$