Problem 5-8AA Periodic: Income comparisons and cost flows LO A1, P3 QP Corp. sold 5.340 units of its product at $4660 per unit during the year and incurred operating expenses of $760 per unit in selling the units. It began the year with 760 units in inventory and made successive purchases of its product as follows. Jan. 1 Beginning inventory Teh. 20 Purchase y 16 Purchase Oct. Prehase Dec. 11 Phase total 760 units # $19.60 per wit 1.660 units $20.60 per unit 160 units #521.60 per unit 560 its # $22.60 per unit 3.4c0 units $23.60 per unit 7,300 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 35%. (Round your average cost per unit to 2 decimal places and round your final answers to nearest whole dollar amount.) OP CORP care tatements Comparing FIFO, LIFO and Weighted Average For Year Ended December 31 FO UFO Weighted Average Sales Cost of goods sold Beginning inventory, Jan 1 Cost of purchases Cost of goods available for sale Les Ending inventory Dec 31 Cost of goods sold Gross pro Operwing expenses Income before Natcom