[tafegal]

Inventories:
Hey is anyone able to help me with preparing a comparative condensed income statement under FIFO and LIFO, using the periodic system?

Here is the details for the statement
Inventories:
Beginning (15,000 units) $34,000
Ending (20,000)

Purchases and sales:
Total net sales (225 000 units) $865 000
Total cost of goods purchased (230 000 units) $578 500

Quarter Units Unit Cost Total Cost
1 60000 $2.30 $138 000
2 50000 2.50 125 000
3 50000 2.60 130 000
4 70000 2.65 185 000
Total 230 000 578 500

Operating expenses were $147 000 and the company tax rate is 2%

If anyone could help me out that would be great!

[morgaine300]

I'm not sure if you're having trouble with the FIFO/LIFO stuff or the income statement itself or what. But here's a site with some explanation of inventory costing:
Principles of Accounting Chapter 8

We will not just do the work for you, so you need to come up with more specific questions about what you don't get.