sales, 1,050 units for $12,900, beginning inventory Use the following information to complete this exercise: 800 units, purchases, 900 units, ending inventory, 650 units, and operating expenses, $6,000. Required: 1. Complete the table for each situation. In Situations A and B (costs rising), assume the following beginning inventory, 800 units at $4- $3,200; purchases, 900 units at $6- $5,400. In Situations C and D (costs falling), assume the opposite; that is, beginning inventory, 800 units at $6 $4,800; purchases, 900 units at S4-$3,600. Use periodic inventory procedures Costs Rising Costs Falling Situation A Situation B Situation C Situation D FIFO LIFO FIFO LIFO Sales Revenue S 12,900 $12,900 S 12,900 $12,90 S 3,200 5,400 8,600 3.900 Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Proft Operating Expenses income from Operations Income Tax Expense (30%) Net Income 4.700 8200 6,000 2 200 660 S 1,540 6 000 6,000 6,000 6 Hints Reterences eBook & Resources Type here to search