Problem $5-8$AA $($Static$)$ Periodic: Income comparisons and cost flows LO A$1,$ P$3$

QP Corporation sold $4,000$ units of its product at $$50$ per unit during the year and incurred operating expenses of $$5$ per unit in selling

the units. It began the year with $700$ units in inventory and made successive purchases of its product as follows.

Required:

Prepare comparative year$-$end income statements for the three inventory costing methods of FIFO, LIFO, and weighted average

which includes a detailed cost of goods sold section as part of each statement. The company uses a periodic inventory system.

Note: Round your average cost per unit to $2$ decimal places and round your final answers to nearest whole dollar amount.