Based on the above and the result of your audit, answer the following:

1. The total inventory as of December 31, 2016 is ______

2. The inventory of TIK as of December 31, 2017 is ______

3. The inventory of TAK as of December 31, 2017 is ______

4. The change from FIFO to average method decreased net income for the year ended December 31, 2017 by ______

On January 1, 2017, Paraguay Corp changed to the average method from first in, first out (FIFO) method. The cumulative effect of this change is impracticably to determine. Accordingly, the ending of 2016 for which the FIFO method was used is also the beginning inventory for 2017 for the average method. The following information was available from inventory records for the two (2) most recent years: TIK TAK Units Unit Cost Units Unit Cost 2016 Purchases First Quarter 15,000 40 66,000 20 Second Quarter 36,000 45 Third Quarter 51,000 50 55,500 30 Fourth Quarter 30,000 55 2017 Purchases First Quarter 9,000 70 105,000 30 Second Quarter 36,000 75 Third Quarter 60,000 80 Fourth Quarter - 91,500 35 Units on Hand December 31, 2016 45,000 43,500 December 31, 2017 48,000 60,000