Homework Chapter 5 Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does no 5 The tollowing intormation pertains to the inventory of Parvin Company Jan. 1 Beginning inventory 300units $17 Apr. 1 Purchased oct. 1 Purchased 2,900 units 1, 000 units $22 $23 Pert 3 of 3 During 2018, Parvin sold 3,570 units of inventory at $41 per unit and incurred $17.700 of operating expenses. Parvin curren 1.5 points tly uses the FIFO method but is considering a change to LFo All ransactions are cash transactions. Assume 8 30 percent income tax rate. Parvin started the period with cash of $67.400, inventory of $5,100, common stock of $49,000, and retain ed earnings of $23,500. c. Determine the cash flow from operating activities under FiFO and LIFO (Round intermediate calculations and final answers to t ne arest whole dollar amount, Amounts to be deducted should be indicated with minus sign.) Answer is complete but not entirely correct. FIFO LIFO s 31,160 Net cash flow from operating activities $ 32,060