Requirements
1.	Using the results from the LIFO costing method calculations in Problem 6-31A,
	prepare a multi-step income statement for Fit World for the month ended
	January 31, 2012.
Test Your Knowledge
P6-32A
First, solve P6-31A FIFO
LIFO
	Purchases			Cost of Goods Sold			Inventory on Hand
Date	Quantity	Unit	Total	Quantity	Unit	Total	Quantity	Unit	Total
		Cost	Cost		Cost	Cost		Cost	Cost
Beginning							80	$50	$4,000
Purchase 1							80	50	4,000
	140	$55	$7,700				140	55	7,700
Sale 1							60	50	3,000
Purchase 2							60	50	3,000
	160	60	9,600				160	60	9,600
Sale 2							50	50	2,500
Ending	300		$17,300				50		$2,500
Req. 1
	Fit World
	Income Statement
	Month Ended January 31, 2012
							-
	Net income						-