prepare income statement for May. Report Gross profit. Operating expenses= $4500. Company uses average cost for inventory. Income tax rate is 32%.Calculate average cost, LIFO, FIFO

Save Score: 0 of 2 pts 1 of 1 (0 complete) Hw Score: 0%, 0 of 2 pts P6-62A (similar to) Question Heip Camp Surplus began May 2018 with 8 (Click the icon to view the purchases ) The company sold 250 stoves, and at May 31, the ending inventory consisted of 70 stoves. The sales price of each stove was $53. 0 stoves that cost $15 each. During the month, the company made the following purchases at cost Read the requirements Requirement 1. Determine the cost of goods sold and ending inventory amounts for May under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. Number of units Average cost 5298.39 Data Table 250 Cost of goods sold Ending inventory 70 1483.55 May 6 18 26 go stoves @ $2 $ 1,800 120 stoves $24 2,880 30 stoves@$28 840 Enter any number in the edit fields and then click Check Answer Print Done Clear All remaining