Courtney Company uses a periodic inventory system. The following data were available: beginninginventory, 1,000 units at $35; purchases, 4,000 units at $38; operating expenses (excluding income taxes), $91,500; ending inventory per physical count at December 31, 900 units; sales price per unit, $75; and average income tax rate, 30%.
Prepare income statements under the FIFO, LIFO, and weighted average costing methods. (Do not round intermediate calculati |