Sweet Acacia Store uses a perpetual inventory system. Last year they reported the following results: Sales $ 1,060,000 Sales returns $ 18,000 Sales discounts $ 57,000 Gross profit margin using FIFO 30 % Gross profit margin using weighted average 31 % Operating expenses $ 239,500 Prepare comparative income statements for both cost formulas. Sweet Acacia Store Condensed Income Statements FIFO Weighted average