The successful company Inc. uses a periodic inventory system. At the end of the fiscal year ended December 31, 2017, the following information regarding the number 2 product was recorded:

Operations:	Unit quantity	unit price
Stock at December 31, 2016	7000	$5
Purchase, September 19	10000	11
October 31st Sale ($ 27 per unit)	8000
Sale November 30 ($ 30 each)	16000
Operating expense (excluding income taxes) $ 500,000
For the year 2017: Purchases, March 5	19000	9

work to do: 1) Give the statements of the results until the result before taxes by giving the details of the cost of sales according to the method FIFO and Average weighed cost For each method, present your ending inventory calculations. (Tips. Use the adjacent columns to compare the two methods). 2) Compare the amount of the results before Taxes to that of the closing stock according to the two methods. Explain the similarities and differences that you observe.