a$.$ Prices are rising:

$(1)$ Situation A: FIFO is used.

$(2)$ Situation B: LIFO is used.

b$.$ Prices are falling:

$(1)$ Situation C: FIFO is used.

$(2)$ Situation D: LIFO is used.

The basic data common to all four situations are sales, $540$ units for $$21,600$; beginning inventory, $310$ units; purchases, $380$ units; ending inventory, $150$ units; and operating expenses, $$4,000.$ The income tax rate is $30\%.$

Required:

Complete the following tabulation for each situation. In Situations A and B $($prices rising$),$ assume the following: beginning inventory, $310$ units at $$10=$ $$3,100$; purchases, $380$ units at $$12=$ $$4,560.$ In Situations C and D $($prices falling$),$ assume the opposite; that is$,$ beginning inventory, $310$ units at $$12=$ $$3,720$; purchases, $380$ units at $$10=$ $$3,800.$ Use periodic inventory procedures.

Complete the following sentence:

Complete the following sentence regarding the relative effects on the cash position for each situation.Complete the following tabulation for each situation. In Situations A and B $($prices rising$),$ assume the following: beginning inventory, $310$ units at $$10=$$$3,100$; purchases, $380$ units at $$12=$$$4,560.$ In Situations C and D $($prices falling$),$ assume the opposite; that is$,$ beginning inventory, $310$ units at $$12=$$$3,720$; purchases, $380$ units at $$10=$$$3,800.$ Use periodic inventory procedures. $($Round your answers to nearest dollar amount.$)$