Current Attempt in Progress The management of Pina Colada Corp. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2020, the accounting records provide the following data. wentory, January 1 (19,000 units) $85,500 ost of 190,000 units purchased 1,010,800 elling price of 152,000 units sold 1,330,000 perating expenses 133,000 Units purchased consisted of 66,500 units at $5.10 on May 10, 66,500 units at $5.30 on August 15; and 57,000 units at $5.60 on November 20. Income taxes are 30%. Prepare comparative condensed income statements for 2020 under FIFO and LIFO