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The following information pertains to the inventory of Parvin Company during Year 2. During Year...

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Accounting

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The following information pertains to the inventory of Parvin Company during Year 2. During Year 2, Parvin sold 2,700 units of inventory at $90 per unit and incurred $41,500 of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $75,000, inventory of $12,000, common stock of $50,000, and retained earnings of $37,000. d. Determine the cash flow from operating activities under FIFO and LIFO. (Amounts to be deducted should be indicated with minu sign.)

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