Question $5$ of $8$

$\frac{0\mathrm{.}33}{1}$

Your answer is correct.

Determine net income under each approach. Assume a $30\%$ tax rate.

$q,$ FIFO

Net income

$

$q,$

$

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Attempts: unlimited

$($b$)$

Your answer is incorrect.

Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and operating expenses, other than depreciation, were on a cash basis.

LIFO

FIFO

Net cash provided by operating activities

$ $$ $