[The following information applies to the questions displayed below.] Pacific Company sells electronic test equipment that it acquires from a foreign source. During the year 2014 the inventory records reflected the following: Beginning inventory Purchases Units Unit Cost Total Cost 23 $11,530 $265,190 401,200 40 10,030 Sales (51 units at $24,510 each) Inventory is valued at cost using the LIFO inventory method 10. 1000 points Required 1. Complete the following income statement summary using the LIFO method and the periodic inventory system PACIFIC COMPANY Income Statement For the Year Ended 2014 Sales revenue Cost of goods sold Gross profit Expenses Pretax income Ending inventory 299,000