Question: Can you plese answer LIFO, FIFO and AVERAGE. Suppose a division of Nevada Instruments Incorporated that sells computer microchips has these inventory records for January

Suppose a division of Nevada Instruments Incorporated that sells computer microchips has these inventory records for January 2021 : (Click the icon to view the inventory records.) The company's accounting records show 330 units were sold for revenue of $6,930. Operating expense for January was $1,500 Read the requirements. Requirement 1. Prepare the company's January, multistep income statement. Calculate income using the LIFO, average-cost, and FIFO methods. Label the bottom line "Operating income." Round the average cost per unit to three decimal places and all other figures to whole-dollar amounts. Show your computations. Begin by preparing the income statement using LIFO, then average, and finally FIFO cost. Data table
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