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  3. courtney company uses a periodic inventory system.

Courtney Company uses a periodic inventory system. The following data was available: beginning merchandise inventory,...

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Accounting

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Courtney Company uses a periodic inventory system. The following data was available: beginning merchandise inventory, 1,000 units at \$30; purchases, 4,000 units at \$35; operating expenses (excluding income taxes), $91,900; ending inventory per physical count at December 31,700 units; sales price per unit, $75; and average income tax rate, 30 percent. Required: 1. Prepare income statements under the FIFO and weighted average costing methods. (Do not round Weighted average cost per unit. Round your final answers to the nearest dollar amount.)

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