Sales 20,900 units @ $53 Inventory, January 1 5,900 units @ 21 Purchases 5,500 units @ 23 10,100 units @ 26 7,200 units @ 32 Inventory, December 31 7,800 units @ ? Operating expenses $210,000

Concord Corporation Condensed Income Statement For the year ended December 31 First-in, first-out Last-in, first-out