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The following comparative information is available for Flounder Corp. for 2022. LIFO FIFO Sales revenue $101,480 $101,480 Cost of goods sold 44,840 34,220 Operating expenses
The following comparative information is available for Flounder Corp. for 2022. LIFO FIFO Sales revenue $101,480 $101,480 Cost of goods sold 44,840 34,220 Operating expenses (including depreciation) 31,860 31,860 Depreciation 11,800 11,800 Cash paid for inventory purchases 37,760 37,760 (b) 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. Net cash provided by operating activities LIFO FIFO
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