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 Costs Falling FIFO LIFO FIFO LIFO Sales Revenue s 23,100 $23,100 s 23,100 23,100 6,400 9,000 15,400 6,500 Beginning Inventory Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Income Tax Expense (30%) Net Income ,900 14,200 6,200 8,000 2.400 S 5,600 6.200 6,200 6200