please, explain all the answers!

QP Corp. sold 5,420 units of its product at $45.80 per unit during the year and incurred operating expenses of $6.80 per unit in selling the units. It began the year with 680 units in inventory and made successive purchases of its product as follows. Jan. 1 Beginning inventory Feb. 20 Purchase May 16 Purchase Oct. 3 Purchase Dec. 11 Purchase Total 680 units @ $18.80 per unit 1,580 units @ $19.80 per unit 780 units @ $20.80 per unit 480 units @ $21.80 per unit 3,380 units @ $22.80 per unit 6,900 units Required: 1. Prepare comparative income statements for the three inventory costing methods of FIFO, LIFO, and weighted average which includes a detailed cost of goods sold section as part of each statement. The company uses a periodic inventory system, and its income tax rate is 40%. (Round your average cost per unit to 2 decimal places.) Income Statements Comparing FIFO, LIFO, and Weighted Average For Year Ended December 31 FIFO LIFO Weighted Average Sales $ 248,236 $ 248,236 $ 248,236 Cost of goods sold: Beginning Inventory, Jan. 1 12,784 12,784 12,784 Cost of purchases 135,036 135,036 135,036 Cost of goods available for sale 147,820147,820 1 47,820 Less: Inventory, Dec. 31 0 X Cost of goods sold 147,820 147,820 147,820 Gross profit 100,416 100,416 100,416 Operating expenses Income before taxes 100,416 100,416 100,416 Income taxes expense Net income $ 100,416 $ 100,416 $ 100,416