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The management of Blossom Inc. asks your help in determining the comparative effects of the...

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Accounting

The management of Blossom Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory
cost flow methods. For 2027, the accounting records show these data.
Units purchased consisted of 36,290 units at $3.4 on May 10,54,240 units at $3.6 on August 15, and 33,150 units at
$3.9 on November 20. Income taxes are 20%.
(a)
Prepare comparative condensed income statements for 2027 under FIFO and LIFO. (Round answers to 0
decimal places, e.g.5,125.)
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