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Problem 6-8A Income statement comparisons and cost flow assumptions-perpetual LO2, 3 eXcel CHECK FIGURE: a. Profit, FIFO = $194,750 During 2023, Fresh Express Company sold 2,410 units of its product on September 20 and 2,550 units on December 22, all at a price of $81 per unit. Incurring operating expenses of $11 per unit sold, it began the year with and made successive purchases of the product as follows: January 1 beginning inventory.... Purchases: February 20..... May 16............ December Total.......... 510 units 1,410 units 610 units 3,210 units 5,740 units Required Prepare a comparative income statement for the company, showing in adjacent columns the profits earned from the sale of the product, assuming the company uses a perpetual inventory system and prices its ending inventory on the basis of: a. FIFO b. Moving weighted average cost. Round all unit costs to two decimal places. Analysis Component: If the manager of Fresh Express Company earns a bonus based on a percentage of gross profit, which method of inventory costing will they prefer?

During 2023, Fresh Express Company sold 2,410 units of its product on September 20 and 2,550 units on December 22 , all at a price of $81 per unit. Incurring operating expenses of $11 per unit sold, it began the year with and made successive purchases of the product as follows: Required Prepare a comparative income statement for the company, showing in adjacent columns the profits earned from the sale of the product, assuming the company uses a perpetual inventory system and prices its ending inventory on the basis of: a. FIFO b. Moving weighted average cost. Round all unit costs to two decimal places. Analysis Component: If the manager of Fresh Express Company earns a bonus based on a percentage of gross profit, which method of inventory costing will they prefer

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