During 2017, the Blizzard Company sold 1,350 units of its product on May 20 and 1,700 units on October 25, all at a price of $51 per unit. Incurring operating expenses of $7 per unit in selling the units, it began the year with, and made successive purchases of, units of the product as follows:

Required 

Prepare a comparative income statement for the company for 2017, 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 unit costs to two decimal places.
Analysis Component: If the Blizzard Company€™s manager earns a bonus based on a percentage of gross profit, which method of inventory costing will she prefer?

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January 1 Beginning inventory .. Purchases: April 2. June 14. Aug. 29... Total 610 units costing $29 per unit $28 per unit $27 per unit $26 per unit 810 units 320 units 1,340 units 3,080 units