Question 6 The board of directors of Hayward Corporation is considering whether or not it should instruct the accounting department to change from a first-in, first-out (Firo) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available. Sales 20,000 units @ $50 Inventory, January 1 6,000 units 20 Purchases 6,000 units 22 10,000 units 25 7,000 units 30 Inventory, December 31 9,000 units Operating expenses $200,000 Prepare a condensed income statement for the year on both bases for comparative purposes Hayward Corporation Condensed Income Statement For the year ended December 31 First-in, first-out Lustin, first-out 2 PRINTER VERSION BACK NEX SATYAPI 200 u Prepare a condensed Income statement for the year on both bases for comparative purposes Hayward Corporation Condensed Income Statement For the year ended December 31 First-in, first-out Last-in, first-out O