Current Attempt in Progress The management of Whispering Winds Corp. 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 (11,500 units) $ 46,000 Cost of 112,000 units purchased 493,000 Selling price of 101,000 units sold 773,000 Operating expenses 125,500 Units purchased consisted of 32,000 units at $4.20 on May 10:58,000 units at $4.40 on August 15; and 22,000 units at $4.70 on November 20. Income taxes are 28%. FIFO LFO Sales Cost of Goods Sold Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale Less Ending Inventory Cost of Goods Sold