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Please answer the following Courtney Company uses a periodic inventory system. The following data were available beginning inventory, 2,400 units at $25, purchases, 3600 units
Please answer the following
Courtney Company uses a periodic inventory system. The following data were available beginning inventory, 2,400 units at $25, purchases, 3600 units at $30, operating expenses (excludinig income taxes) $101,000; ending inventory per physical count at December 31. .700 units; sales price per unit, $65, and average income tax rate, 30% Required 1. Prepare income statements under the FIFO. LIFO, and weighted average costing methods. (Do not round intermediate calculations. Round your Final answers to the nearest dollar amount.) Inventory Costing Method Weighted Average Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Income Tax Expense Net Income Units FIFO LIFO 0 s Weighted Average Units FIFO LIFO Cost of Goods Sold Equation Beginning Inventory Purchases Goods Available for Sale Ending Inventory Cost of Goods Sold
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