The following information relates to the inventory of Miles Hardware during the month of November:

	Units	Unit cost	Total cost
Nov. 1 10 23	Beginning inventory Purchases Purchases	500 500 600	$5.00 5.30 5.60	$2 500 2 650 3 360
		1 600		$8 510

Miles Hardware uses the periodic inventory system. During the month, 600 units were sold for $6300. A physical stocktake on 30 November verified that 690 units were on hand. Ignore GST.

Required

Prepare an income statement up to gross profit for November using each of the following costing methods:

(a) specific identification, assuming that 300 units were sold from the beginning inventory and 300 units were sold from the first purchase

(b) FIFO

(c) LIFO

(d) weighted average.