In 2022, Lisa Corporation changed its method of inventory pricing from LIFO to FIFO. Net income computed on a LIFO as compared to a FIFO basis for the four years involved is: (Ignore income taxes.) LIFO FIFO 2019 $78,800 $87,300 2020 85,000 88,800 2021 87,300 90,300 2022 92,600 92,600

In 2022, Lisa Corporation changed its method of inventory pricing from LIFO to FIFO. Net income computed on a LIFO as compared to a FIFO basis for the four years involved is: (Ignore income taxes.) 2019 2020 2021 2022 LIFO $78,800 85,000 87,300 92,600 FIFO $87,300 88,800 90,300 92,600 Indicate the net income that would be shown on comparative financial statements issued at 12/31/22 for each of the four years, assuming that the company changed to the FIFO method in 2022. Net Income 2019 si 2020 sl 2021 s 2022 si Assume that the company had switched from the average cost method to the FIFO method with net income on an average cost basis for the four years as follows: 2019, $80,400; 2020, $86,120; 2021, $90,300; and 2018, $93,600. Indicate the net income that would be shown on comparative financial statements issued at 12/31/22 for each of the four years under these conditions. Net Income 2019 s 2020 s 2021 s 2022 $ Assuming that the company switched from the FIFO to the LIFO method, what would be the net income reported on comparative financial statements issued at 12/31/22 for 2019, 2020, and 2021? Net Income 2019 $ 2020 $ 2021 Click if you would like to Show Work for this question: Open Show Work