The following comparative information is available for Blossom Company for 2025. Sales revenue Cost of goods sold Operating expenses (including depreciation) Depreciation Cash paid for inventory purchases (a) X Your answer is incorrect. LIFO LEO $81,000 $81,000 38,000 30,000 9,100 38,000 FIFO 4 31,000 30,000 9,100 38,000 Determine net income under each approach. Assume a 30% tax rate. FIFO

The following comparative information is available for Blossom Company for 2025 . (a) Determine net income under each approach. Assume a 30\% tax rate. Determine net income under each approach. Assume a 30% tax rate