Current Attempt in Progress Swifty Inc. is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information: Cost of Goods Sold Units Cost Total Date Oct. 2 15 Units 8,700 14,500 Purchases Cost Total $13 $113,100 17 246,500 Units 8,700 [1] [3] Ending Inventory Cost Total $13 $113,100 [2] [4] [5] 29 22.200 [6] [8] 17] [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. FIFO Average $576,000 $576,000 Sales Cost of goods sold Gross profit Operating expenses Income before income tax Income tax expense (30%) Net income 197,000 197,000 (a) Fill in the missing amounts in the perpetual inventory schedule, assuming the use of the FIFO cost formula. Purchases Units Cost Total 8,700 $13 $113,100 Cost of Goods Sold Cost Units Date Oct. 2 Total 15 14.500 17 246,500 29 22.200 (total units sold) ) $ $ Save for Later Attempts: 0 of 1 used Submit Answer Question Part Score --14