Income Statement			Units	@	FIFO	LIFO	Wtd Avg
Sales Revenue				$70	$0	$0	$0
Cost of Goods Sold
Beginning Inventory				35	0	0	0
+Purchases				38	0	0	0
=Total Available For Sale			0		0	0	0
-Ending Inventory
=Cost of Goods Sold			0		0	0	0
Gross Profit					$0	$0	$0
Expenses					142000	142000	142000
Pretax Income					($142,000)	($142,000)	($142,000)
Income Tax Expense					-42600	-42600	-42600
Net Income					($99,400)	($99,400)	($99,400)
		Sales Units = 10000 available - 1800 ending inventory
		Ending Inventory Computation
		FIFO		38	0
		LIFO		35	0
		Wtd Avg		37.4	0