Use the data from Problem 6-5A and do the question assuming Fresh Express Company uses a periodic inventory costing system.
During 2014, Fresh Express Company sold 2,500 units of its product on September 20 and 3,000 units on December 22, all at a price of $90 per unit. Incurring operating expenses of $14 per unit sold, it began the year with and made successive purchases of the product as follows:
In Exercise 6.5

Required:
Prepare a comparative income statement for the company, showing in adjacent columns the net incomes earned from the sale of the product, assuming the company uses a perpetual inventory system and prices its ending inventory on the basis of:
a. FIFO
b. Moving weighted average cost. Round all unit costs to two decimal places.
Analysis Component:
If the manager of Fresh Express Company earns a bonus based on a percentage of gross profit, which method of inventory costing will she prefer?

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January 1 beginning inventory Purchases 35 per unit 600 units February 20. May 16..7 1,500 units37 per unit 700 units $41 per unit 3,300 units$42 per unit