Problem 6-4A The management of Cullumber Company is reevaluating the appropriateness of using its present inventory cost flow method, which is average-cost. The company requests your help in determining the results of operations for 2019 if either the FIFO or the LIFO method had been used. For 2019, the accounting records show these data: Inventories Purchases and Sales Beginning (3,500 units) Ending (8,500 units) $7,000 Total net sales (90,000 units) Total cost of goods purchased (95,000 units) $373,500 214,000 Purchases were made quarterly as follows. Quarter Units Unit Cost Total Cost $2.00 $50,000 43,000 46,000 75,000 $214,000 25,000 20,000 20,000 30,000 95,000 2.15 2.30 2.50 4 Operating expenses were $130,000, and the company's income tax rate is 40%