QP Corporated sold 5,470 units of its product at $45.30 per unit during the year and incurred operating expenses of $6.30 per unit in selling the units. It began the year with 630 units in inventory and made successive purchases of its product as follows. January 1 Beginning inventory 630 units @ $18.30 per unit February 20 Purchase 1,530 units @ $19.30 per unit May 16 Purchase 730 units @ $20.30 per unit October 3 Purchase 430 units @ $21.30 per unit December 11 Purchase 3,330 units @ $22.30 per unit Total 6,650 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.)