Problem 6-4A The management af National Inc. asks your help in determining the comparative effects af the FIFO and LIFO inventory cost flow methods. For 2017, the accounting records show these data. Inventory, January 1 (10,000 units) Cost of 120,000 units purchased Selling price of 98,000 units sold Operating expenses 35,000 468,500 750,000 124,000 Units purchased consisted of 35,000 units at $3.70 on May 10; 60,000 units at $3.90 on August 15; and 25.000 units at S4.20 on November 20. Income taxes are 28%. (a) Prepare comparative condensed Income statements for 2017 under FIFO and LIFO. (Round answers to o declmal places, e.g. 5,125.) National Inc. FIFO LIFO Click if you would like to Show Work for this question: Open Show Work