QP Corp. sold 5,440 units of its product at $45.60 per unit during the year and incurred operating expenses of $6.60 per unit in selling the units. It began the year with 660 units in inventory and made successive purchases of its product as follows. Jan 660 units @$18. 60 per unit 1,560 units $19. 60 per unit 760 units $20. 60 per unit 460 units $21.60 per unit 3, 360 units@ $22. 60 per unit 1 Beginning inventory Feb. 20 Purchase 16 Purchase 3 Purchase May Oct. Dec 11 Purchase 6, 800 units Total 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 30%. (Round your average cost per unit to 2 decimal places and round your final answers to nearest whole dollar amount.) QP CORP. Income Statements Comparing FIFO, LIFO, and Weighted Average For Year Ended December 31 Weighted Average FIFO LIFO Sales Cost of goods sold: Beginning inventory, Jan. Cost of purchases Cost of goods available for sale 0 Less: Ending inventory, Dec. 31 Cost of goods sold 0 Gross profit 0 Operating expenses Income before taxes 0 Income taxes expense Net income 0