Date Swifty Inc is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information: Purchases Cost of Goods Sold Ending Inventory Units Cost Total Units Cost Total Units Cost Total Oct. 2 8,700 $13 $113,100 8,700 $13 $113,100 15 14,500 17 246,500 (1) (2) (3) [4] [5] 29 22,200 [6] [7] [8] [9] [11] (12) (13) [10] The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula FIFO $576,000 Average $576.000 Sales Cost of goods sold Gross profit Operating expenses Income before income tax Income tax expense (3096 Net income 197.000 197,000 Question 5 of 6 = (a) Fill in the missing amounts in the perpetual inventory schedule, assuming the use of the FIFO cost formula. Purchases Cost Total Cost of Goods Sold Cost Units Units Total Date Oct 2 8,700 $13 $113,100 15 14,500 17 246,500 29 22,200 (total units sold) 5 A e Textbook and Media Shief Attempts: 0 of 3 used Submit Answer brero Question 5 of 6 / 10 TTI (a) Fill in the missing amounts in the perpetual inventory schedule, assuming the use of the FIFO cost formula Ending Inventory Cost Total Units Total 8,700 $13 $113,100 $ $ e Textbook and Media Before Attempts. 0 of 3 used Submit Answer (5) W