questions 10 and 12

Use the following information for questions #9-14: The following data was obtained from the records of Brankovich Tool and Die, Inc., for the current year: The company sold 200 units during the year. Sales for the year are $70,000; operating expenses are $20,000 Using the FIFO method, what is Net Income? Question 11 Using the LIFO method, what is cost of goods sold? Question 12 Using the LIFO method, what is Gross Profit