Please see the below question. Thank you for your help.

The management of Waterway Inc. is reeval uating the appropriateness of using its present inventory cost ow method, which is averagecost. The company requests your help in determining the results of operations for 2022 if either the FIFO or the LIFO method had been used. For 2022, the accounting records show these data: Inventories Purchases and Sales Beginning {5,0000nits] $20,000 Total net sales {181,000 units] $1,113,150 Ending [14,000 units} Total cost of goods pu rchased [190,000 units} 846,000 Purchases were made quarterly as follows. Quarter Units Unit Cost Total Cost 1 50000 $4.20 $210,000 2 40,000 4.35 174,000 3 40,000 4.50 100,000 4 60,000 4.70 282,000 190,000 $846,000 \f\f\f\f