Current Attempt in Progress The management of Blossom Company asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2022, the accounting records show these data. Inventory, January 1 (10,160 units) $36,576 Cost of 116,680 units purchased 466,408 Sales revenue on 100,000 units 797,800 Operating expenses 128,988 Units purchased consisted of 37,020 units at $3.80 on May 10, 56,020 units at $4.00 on August 15, and 23,640 units at $4.30 on November 20. Income taxes are 30%. (a) Prepare comparative condensed income statements for 2022 under FIFO and LIFO. (Round answers to O decimal places, e.g. 5,125.) Blossom Company Condensed Income Statements For the Year Ended December 31, 2022 Sales Cost of Goods Sold FIFO LIFO Sales Cost of Goods Sold Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale Less : Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Income before Income Taxes Income Tax Expense Net Income/(Loss) Condensed Income Statements For the Year Ended December 31, 2022 FIFO $ LIFO $