Bramble Inc. is trying to determine whether to use the FIFO or average cost formula. The...

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Bramble Inc. is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information: Purchases Cost of Goods Sold Ending Inventory Date Units Cost Total Units Cost Total Units Cost Total Oct. 2 9,300 $11 $102,300 9,300 $11 $102,300 15 15,500 13 201,500 [1] [2] [3] [4] [5] 29 23,800 [6] [7] [8] [9] [10] [11] [12] [13] The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula. Bramble Inc. is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information: Purchases Cost of Goods Sold Ending Inventory Date Units Cost Total Units Cost Total Units Cost Total Oct. 2 9,300 $11 $102,300 9,300 $11 $102,300 15 15,500 13 201,500 [1] [2] [3] [4] [5] 29 23,800 [6] [7] [8] [9] [10] [11] [12] [13] The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula.