* Question 1 The management of Flounder Co, SA is reevaluating the appropriateness of using its present inventory cost flow method. They request your help in determining the results of operations for 2017 if either the FIFO method or the average-cost method hod been used. For 2017, the accounting records show the folowing data Beginning (11,700 units) 28,600 T Ending (17,550 units) Total net sales (263,250 units) Tatal cost of goods purchased (269,100 unitc) 1,012,050 843,687 Purchases were made quarterly as follows. 0,200 58,500 58,500 C2.92 3.12 3.22 204,984 182,520 188,370 269,100 843,697 Operating expenses were 143,400, and the company's income tax rate is 32%. Question 1 Prepare comparative condensed income statements for 2017 under FIFO and averagc cost. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to 0 decimal places, e.g. 125.) FLOUNDER Co, SA