Swifty Inc. is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information: Purchases Cost of Goods Sold Units Cost Total Date Units Cost Total Units Ending Inventory Cost Total $ 13 $ 113,100 Oct 2 8,700 $ 13 $ 113,100 8.700 15 14,500 17 246,500 [1] [2] [3] 14) [5] 29 22,200 [6] 17] [8] [9] (10) [11] ] [12] (13) The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula, FIFO Average Sales $ 576,000 $ 576,000 Cost of goods sold Gross profit Operating expenses 197.000 197.000 The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula. FIFO Average Sales $576,000 $ 576,000 Cost of goods sold Gross profit Operating expenses 197,000 197.000 Income before income tax Income tax expense ( 30%) Net income (a) Fill in the missing amounts in the perpetual inventory schedule, assuming the use of the FIFO cost formula. Cost of Goods Sold Purchases Cost Total Total Cost Date Units Units Oct. 2 8,700 $13 $113,100 15 14,500 17 246,500 29 22,200 (total units sold) 1 $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit