Prepare a condensed income statement for the year on both bases for comparative purposes.
|
Sales
|
19,100
|
units @ $63
|
|
Inventory, January 1
|
6,530
|
units @ 25
|
|
Purchases
|
6,260
|
units @ 28
|
|
10,400
|
units @ 32
|
|
7,220
|
units @ 38
|
|
Inventory, December 31
|
11,310
|
units @ ?
|
|
Operating expenses
|
$253,200
|
|