The following income statement is complete except for a few missing titles (bold lines on the left),and amounts (dotted lines on the right).
Prepare a complete income statement using the format and amounts provided.Fill in all items that are missing titles and amounts (ignore income taxes).

Learning Objectives

• Master the evaluation process of concluding inventory within assorted scenarios.
• Implement cost flow presumptions in calculating the cost of goods sold.
• Investigate the impact that diverse methods of inventory costing have on financial accounts under various expense conditions.