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QP Corporated sold 5,330 units of Its product at $46.70 per unit during the year and Incurred operating expenses of $7.70 per unit I selling
QP Corporated sold 5,330 units of Its product at $46.70 per unit during the year and Incurred operating expenses of $7.70 per unit I selling the units. It began the year with 770 units in Inventory and made successive purchases of its product as follows. Required: 1. Prepare comparative year-end Income statements for the three Inventory costing methods of FIFO, LIFO, and weighted average which Includes a detalled cost of goods sold section as part of each statement. The company uses a perlodic Inventory system. (Round your average cost per unlt to 2 decimal places and round your final answers to nearest whole dollar amount.)
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