Grouper 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 Date Oct. 2 Units 8,700 15 14,500 Cost $12 14 Total Units Cost Total Units Ending Inventory Cost Total $104,400 8,700 $12 $104,400 203,000 [1] [2] [3] [4] [5] 29 19,800 [6] [8] EE [71 191 [10] fot [11] [12] [13] 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.