Required: 1. Complete the table for each situation, In Situations A and B (costs rising), assume the following: beginning inventory, 900 units at $10 = $9,000; purchases, 1,000 units at $12 = $12,000. In Situations C and D (costs falling), assume the opposite; that is, beginning inventory, 900 units at $12 = $10,800; purchases, 1,000 units at $10 - $10,000. Use periodic inventory procedures. Costs Rising Situation A FIFO Situation B LIFO $ Costs Falling Situation C Situation D FIFO LIFO $ 31,500 $ 31,500 $ 31,500 31,500 $ 9,000 12,000 21,000 9,000 0 0 0 0 0 Sales Revenue Beginning Inventory Purchases Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Income Tax Expense (30%) Net Income 6,600 6.000 6,600 12.000 19,500 6,600 12.900 3,870 9,030 $