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QP Corporated sold 5,390 units of its product at $46.10 per unit during the year...

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Accounting

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QP Corporated sold 5,390 units of its product at $46.10 per unit during the year and incurred operating expenses of $7.10 per unit in selling the units. It began the year with 710 units in inventory and made successive purchases of its product as follows. Required: 1. Prepare comparative year-end income statements for the three inventory costing methods of FIFO, LIFO, and weighted average which includes a detalled cost of goods sold section as part of each statement. The company uses a periodic inventory system. Note: Round your average cost per unit to 2 decimal places and round your final answers to nearest whole dollar amount

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