Park Company reported the following March purchases and sales data for its only product. Date Mar. 1 Beginning inventory Mar. 10 Sales Mar. 20 Purchase Mar. 25 Sales Mar. 30 Purchase Units Sold at Retail 90 units @$15 145 units @$15 Activities Units Acquired at Cost 150 units $7.00$1,050 220 units $6.00 1,320 450 $2,820 90 units@ $5.00 Totals 460 units 235 units Park uses a perpetual inventory system. For specific identification, ending inventory consists of 225 units where 90 are from the March 30 purchase, 80 are from the March 20 purchase, and 55 are from beginning inventory 1.Complete comparative income statements for the month of March for Park Company for the four inventory methods Assume expenses are $1,600, and that the applicable income tax rate is 30% Answer is complete but not entirely correct. PARK COMPANY Income Statements For Month Ended March 31 Specific Identification Weightecd Average LIFO 3,525 3,525 3,525$ 3,525 1,505 2,020 1,600 420 126 255 294 Sales Cost of goods 1,505 2,020 1,600 420 126 1,533 1,992 1,600 392 118 1,560 1,965 1,600 365 110 sold Gross profit Expenses Income before taxes Income tax expense Net income 294 $ 274$