The following information pertains to the inventory of Parvin Company for Year 3: Jan. 1 Apr. 1 Oct. 1 Beginning inventory Purchased Purchased 400 units @ $ 22 2,800 units @ $27 900 units @ $28 During Year 3, Parvin sold 3,485 units of inventory at $41 per unit and incurred $16,100 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 $131,200, inventory of $8,800, common stock of $115,000, and retained earnings of $25,000. PARVIN COMPANY Income Statements For the Year Ended December 31, Year 3 FIFOL IFO Income before tax