*Problem 6-4A The management of Tinker Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2014, the accounting records show these data. Inventory, January 1 (10,000 units) $ 35,000 Cost of 120,000 units purchased 468,200 Selling price of 98,500 units sold 743,600 Operating expenses 130,900 Units purchased consisted of 34,400 units at $3.60 on May 10; 59,300 units at $3.90 on August 15; and 26,300 units at $4.30 on November 20. Income taxes are 30%. (a) Prepare comparative condensed income statements for 2014 under FIFO and LIFO.