Points: $0\mathrm{.}14$ of $1$

The records of Lindbergh Aviation include the following accounts for inventory of aviation parts at July $31$ of the current year:

View the records.

Read the requirements.

Requirement $1.$ Prepare a partial income statement through gross profit under the average, FIFO, and LIFO methods. Round average cost per unit to two decimal places and all other amounts to the nearest dollar.

Lindbergh Aviation

Partial Income Statement

Year Ended July $31$

$\backslash$table$[[,\backslash$table$[[$Year Ended July$]]],[,\backslash$table$[[$Average cost$]]],[$Sales revenue,$$,101,470],[$Cost of goods sold,,$],[$Gross profit,,$]]$

Records

$\backslash$table$[[\backslash$table$[[$Inventory$]]],[$Aug$,1$ Balance,$800$ units,@ $$5\mathrm{.}00,\backslash$table$[[$$$,4,000$