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QP Corporated sold 5,470 units of its product at $45.30 per unit during the year...

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Accounting

QP Corporated sold 5,470 units of its product at $45.30 per unit during the year and incurred operating expenses of $6.30 per unit in selling the units. It began the year with 630 units in inventory and made successive purchases of its product as follows.
Required:
Prepare comparative year-end income statements for the three inventory costing methods of FIFO, LIFO, and weighted average which includes a detailed cost of goods sold section as part of each statement. The company uses a periodic inventory system. Note: Round your average cost per unit to 2 decimal places and round your final answers to nearest whole dollar amount.
\table[[QP CORPORATION],[Income Statements Comparing FIFO, LIFO, and Weighted Average],[For Year Ended December 31],[,FIFO,LIFO,\table[[Weighted],[Average]]],[Sales],[Cost of goods sold:],[Beginning inventory, January 1],[Cost of purchases],[Cost of goods available for sale,0,0,0],[Less: Ending inventory, December 31],[Cost of goods sold,0,0,0],[Gross profit,0,0,0],[Operating expenses,,,4],[Net income,$,0,$
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