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Beck Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2:

			Units			Unit Cost
Inventory, December 31, prior year				7,700			$	9
For the current year:
Purchase, March 5				19,700				7
Purchase, September 19				10,700				3
Sale ($30 each)				8,700
Sale ($32 each)				16,700
Operating expenses (excluding income tax expense)	$	407,000

I am stuck. All the answers up to that point are correct. But I am unsure as to how to go from here. Any help would be Great.

Required 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FIFO and (b) Case B: LIFO. (Loss amounts should be indicated with minus sign.) BECK INC Income Statement For the Year Ended December 31, current year Case A Case B FIFO LIFO ales revenue $ 795,400 $ 795,400 Cost of goods sold $ 69,300 170,000 S 69,300 Beginning inventory Purchases 170,000 Goods available for sale 239,300 239,300 Ending inventory Cost of goods sold Gross profit rating expenses 407,000 407,000 Pretax income/loss