PLEASE ANSWER AND SHOW WORK, WILL GIVE THUMBS UP IF RIGHT

Northern Imports provided the following information regarding its inventory for the current year, its second year of operations.

$($Click the icon to view the information.$)$

Northern Imports has computed its ending inventory and cost of goods sold under the Moving$-$average, FIFO, and LIFO cost methods. Northern Imports uses a perpetual inventory sy $($Click the icon to view the Moving$-$average perpetual record.$)$ # $($Click the icon to view the FIFO perpetual record.$)$

E $($Click the icon to view the LIFO perpetual record.$)$

Read the requirement.

Requirement a$.$ Prepare a partial income statement up to the cost of goods sold section for each of the three cost$-$flow assumptions $($moving$-$average, FIFO, and LIFO methods$).$

Select the labels and enter the amounts to complete the partial income statements under each cost$-$flow assumption.

Northern Imports

Partial Income Statement

For the Year Ended

Sales revenues

Less: Cost of goods sold

Gross profit

Requirement

For each of the three cost$-$flow assumptions $($moving$-$average, FIFO, and LIFO methods$)$:

a$.$ Prepare a partial income statement up to the cost of goods sold section.

b$.$ Compute the gross profit percentage.

c$.$ Comment on the ranking of the gross profit percentages.

Data table