(fifo and lifo, income statement presentation)

Project Description:

(fifo and lifo, income statement presentation)
the board of directors of oksana corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (fifo) basis of pricing inventories to a last-in, first-out (lifo) basis. the following information is available.
sales 21,000 units @ $51
inventory, january 1 6,000 units @ 20
purchases 6,000 units @ 23 10,000 units @ 26
7,000 units @ 31
inventory, december 31 8,000 units @ ?
operating expenses $204,800

complete the condensed income statement for the year on both bases for comparative purposes.

first in, first out last in, first out

sales
cost of goods sold
inventory jan 1
purchases
cost of goods available
inventory dec 31
cost of goods sold
gross profit
operating expenses
net income

i need these totals for both lifo and fifo
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