The following comparative information is available for Oriole Company for 2025. Sales revenue Cost of goods sold Operating expenses (including depreciation) Depreciation Cash paid for inventory purchases (a) Net income tA $ LIFO LIFO $88,000 41,000 29,000 11,000 36,250 FIFO tA $88,000 Determine net income under each approach. Assume a 30% tax rate. 34,000 29,000 11,000 36,250 FIFO

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