The following information pertains to the inventory of Parvin Company for Year 3:

Jan. 1	Beginning inventory	300	units	@	$	18
Apr. 1	Purchased	2,600	units	@	$	23
Oct. 1	Purchased	900	units	@	$	24

During Year 3, Parvin sold 3,230 units of inventory at $44 per unit and incurred $18,900 of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $150,100, inventory of $5,400, common stock of $132,000, and retained earnings of $23,500.

a. Prepare income statements using FIFO and LIFO. (Round intermediate calculations and final answers to the nearest whole dollar amount.)

b. Determine the amount of income tax that Parvin would pay using each cost flow method.

c. Determine the cash flow from operating activities under FIFO and LIFO. (Round intermediate calculations and final answers to the nearest whole dollar amount. Amounts to be deducted should be indicated with minus sign.)