Please help answers part a, b & c

The following information pertains to the inventory of Parvin Company for Year 3 Beginning inventory Jan. 1 Apr. 1Purchased Oct. Purchased 400 units 8 $30 2,000 units 8 $35 600 units $38 During Year 3, Parvin sold 2,700 units of inventory at $90 per unit and incurred $41,500 of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $75,000, inventory of $12,000, common stock of $50,000, and retained earnings of $37,000 a. Prepare income statements using FIFO and LIFO PARVIN COMPANY Income Statements For the Year Ended December 31, Year 3 FIFO LIFO $ 243,000 243,000 Sales Cost of goods sold Gross margin Operating expenses Income before tax ncome tax expense 0 0 et income