The following information applies to the questions displayed below Pacific Company dels electronic test equipment that it acquires from a foreign source. During the year, the inventory records reflected the following Units 22 38 Beginning inventory Purchases Sales (units at $24,530 och Unit Cost $11,630 10:00 Total Cost $ 205.860 Inventory is valued at cost using the UFO inventory method 3. 10.00 points Required: 1. Complete the following income statement summary using the LIFO method and the periodic inventory system PACIFIC COMPANY Income Statement For the Current Year Ended Sales revenue Cost of goods sold Gross profit Expenses 295,000 Pretax income Ending inventory TI 4. value 10.00 points 2. The management, for various reasons, is considering buying 22 additional units before December 31 year-end at $9.630 each. Restate the income statement and ending inventory), assuming that this purchase made on December 31. Assume the LIFO method and the periodic inventory system are used by the company PACIFIC COMPANY Income Statement For the Current Year Ended Sales revenue Cost of goods sold Gross profit Expenses 295.000 Pretax income Ending inventory 5. value 10.00 points 3a. How much did protax income change because of the decision on December 31 current year? Prelax income by 3b. Assuming that the unit cost of test equipment is expected to continue to decine during the folowing year, is there any evidence of income manipulation? Yes O No References eBook & Resources Worksheet Learning Objective: 07.02 Report Inventory and cost of goods sold using the four