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Date Units Cost Total Units its Cost Total Oct. 2 9,000 $13 $117,000 9,000 $13 $117.000 15 15,000 17 255,000 [1] 121 [3] [4] 151 29 22,400 [6] [7] [8] [9] [10] [11] [12] (13) The company accountant has prepared the following partial statement of income to help management understand the finan statement impact of each cost determination cost formula. FIFO Average Sales $558,000 Cost of goods sold Gross profit Operating expenses 202,000 202.000 Income before income tax Income tax expense (30%) Net income Cat Tot Oct. 2 9,000 $13 $117.000 15 15,000 17 255,000 29 22,400 (total units sold) $ $ Attempts: 0 of 1 used Submit Ans ve for ater Blue 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 9,000 $13 Oct. 2 $117,000 $13 9,000 $117,000 15 15,000 [2] 255,000 [1] 17 [3] [4] 15] 29 22,400 [6] [7] [8] [10] [9] [13] [11] [12] 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 Sales $558,000 $558,000 Cost of goods sold Gross profit Operating expenses 202,000 202,000 Income before income tax Income tax expense (30%) Net income Fill in the missing amounts in the perpetual inventory schedule, assuming the use of the FIFO cost formula. Purchases Cost of Goods Sold Date Units Cost Total Units Cost Total Oct. 2 9.000 $13 $117,000 15 15.000 17 255,000 29 22,400 (total units sold) $ $ 29 22,400 (total units sold) $ $ Attempts: 0 of 1 used Submit ANSWER Save for Later he parts of this question must be completed in order. This part will be available when you complete the part above