Problem 5-8A (Algo) Periodic: Income comparisons and cost flows LO A1, P1 QP Corp. sold 5,380 units of its product at $46.20 per unit during the year and incurred operating expenses of $7.20 per unit in selling the units. It began the year with 720 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 720 units @ $19.20 per unit 1,620 units @ $20.20 per unit 820 units @ $21.20 per unit 520 units @ $22.20 per unit 3,420 units @ $23.20 per unit 7,100 units Required: 1. Prepare comparative year-end 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. (Round your average cost per unit to 2 decimal places and round your final answers to nearest whole dollar amount.)