During November of Year XXXX, Cooper Company sold 120 units of a product for $375 each. Selling and administrative expenses for the year were $14,000. All transactions were cash transactions. The following information is also available about Cooper's inventory and purchases:

Beginning inventory40 units @ $200

January 31 Purchase 60 units @ $220

October 30 Purchase 40 units @ $240

The company's income tax rate is 30%.

Required:

a) Prepare an income statement for Cooper Company for Year XXXX assuming:

1) FIFO inventory cost flow

2) LIFO inventory cost flow

3) Weighted Average cost flow

b) Prepare the operating activities section of the Statement of Cash Flows for 2012 assuming:

1) FIFO inventory cost flow

2) LIFO inventory cost flow

3) Weighted Average cost flow