Pina Co$.$ decides at the beginning of $2025$ to adopt the FIFO method of inventory valuation. Pina had used the LIFO method for

financial reporting since its inception on January $1,2023,$ and had maintained records adequate to apply the FIFO method

Other information:

For each year presented, sales are $$2,780$ and operating expenses are $$1,010.$

Pina provides two years of financial statements. Earnings per share information is not required.

Prepare income statements under LIFO for $2023,2024,$ and $2025.$

Prepare income statements under FIFO for $2023,2024,$ and $2025.$