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  • Nov 17, 2011, 08:48 PM
    vickyg
    comparative income statement
    Purchases Sales
    Units Unit Cost Units Selling Price/Unit
    3/1 Beginning Inventory 100 $40
    3/3 Purchase 60 $50
    3/4 Sales 70 $80
    3/10 Purchase 200 $55
    3/16 Sales 80 $90
    3/19 Sales 60 90
    3/25 Sales 40 90
    3/30 Purchase 40 65

    how do I complete comparative income statement using ending inventory valued at FIFO, LIFO and weighted average. Operating expenses total $2,000 , the tax rate is 40%. I can't solve this to save my life, and I always come up with different answers !

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