Use the following information to complete this exercise: sales, 1,050 units for $23,100; beginning inventory, 800 units; purchases, 900 units; ending inventory, 650 units; and operating expenses, $6,200.

Required:

1.

Complete the table for each situation. In Situations A and B (costs rising), assume the following: beginning inventory, 800 units at $8 = $6,400; purchases, 900 units at $10 = $9,000. In Situations C and D (costs falling), assume the opposite; that is, beginning inventory, 800 units at $10 = $8,000; purchases, 900 units at $8 = $7,200. Use periodic inventory procedures.

value .00 points Use the following information to complete this exercise: sales, 1,050 units for $23,100; beginning inventory 800 units; purchases, 900 units, ending inventory, 650 units, and operating expenses, $6,200 Required 1. Complete the table for each situation. In Situations A and B (costs rising), assume the following beginning inventory, 800 units at S8 $6,400, purchases, 900 units at $10 $9,000. In Situations C and D (costs falling), assume the opposite, that is, beginning inventory, 800 units at $10 $8,000 purchases, 900 units at $8- S7,200. Use periodic inventory procedures Costs Rising Costs Falling Situation A Situation B Situation C Situation D FIFO LIFO FIFO LIFO S 23,100 S23,100 S 23,100 Sales Revenue Beginning Inventory Purchases Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Income Tax Expense (30%) Net Income 23,100 $ 6,400 9,000 5,400 6,500 8,900 14,200 6,200 8,000 2,400 S 5,600 6,200 6,200 6,200