Help to find: Inventory Dec 31, COGS, Gross Profir, Operating Expenses, and Net Income/Loss on both LIFO and FIFO

Your answer is partially correct. Try again. The board of directors of Tamarisk 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 Inventory, January 1 Purchases 20,200 units @ $58 6,300 units @ 23 6,200 units @ 26 10,600 units @ 29 6,300 units @ 9,200 units @ ? $232,000 35 Inventory, December 31 Operating expenses Prepare a condensed income statement for the year on both bases for comparative purposes. Tamarisk Corporation Condensed Income Statement For the year ended December 31 First-in, first-out Last-in, first-out