The board of directors of Sunland Corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available.

Sales		19,200	units @	$57
Inventory, January 1		5,500	units @	23
Purchases		6,400	units @	25
		9,700	units @	28
		7,400	units @	34
Inventory, December 31		9,800	units @	?
Operating expenses		$226,000

Prepare a condensed income statement for the year on both bases for comparative purposes.

Sunland Corporation Condensed Income Statement For the year ended December 31 First-in, first-out Last-in, first-out $ $ $ $ ( $ $