Check my work Required information (The following information applies to the questions displayed below Part 2 of 3 Daniel Company uses a periodic Inventory system. Data for the current year: beginning merchandise Inventory (ending Inventory December 31, prior year), 2,010 units at $35: purchases, 7.990 units at $37, expenses (excluding income taxes). $193,700; ending inventory per physical count at December 31, current year, 1,640 units; sales, 8,360 units, sales price per unit, $75; and average income tax rate, 36 percent. points 2. Between FIFO and LIFO, which method is preferable in terms of net income and (b) Income taxes paid (cash flow? Net income Income taxes paid References