The records of Armstrong Aviation Supply Inc. include the following accounts for inventory of aviation fuel at December 31, 2014:

Requirements
1. Prepare a partial income statement through gross profit under the weighted-average-cost and FIFO methods assuming the periodic system is used. Round weighted-average cost per unit to four decimal places and all other amounts to the nearest dollar.
2. Which inventory method would you use to minimize income tax? Explain why this method causes income tax to be the lowest.

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Inventory Jan. Balance700 units@$7.00 4,900 Mar. 6 Purchase 300 units 7.03 2,113 June 22 Purchase 8,400 units7.30 63,000 Oct. 4 Purchase 300 units 8.0 4,230 Sales Revenue Dec. 3 9,000 units 127,800