The following information pertains to the inventory of Parvin Company during Year $2.$

January $1$ Beginning Inventory $500$ units @ $$34$

April $1$ Purchased $2,200$ units @ $$39$

October $1$ Purchased $700$ units @ $$42$

During Year $2,$ Parvin sold $3,100$ units of inventory at $$85$ per unit and incurred $$42,500$ of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a $40$ percent income tax rate. Parvin started the period with cash of $$77,000,$ inventory of $$17,000,$ common stock of $$52,000,$ and retained earnings of $$42,000.$Required information

$[$The following information applies to the questions displayed below.$]$

The following information pertains to the inventory of Parvin Company during Year $2.$

During Year $2,$ Parvin sold $3,100$ units of inventory at $$85$ per unit and incurred $$42,500$ of operating expenses. Parvin

currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a $40$

percent income tax rate. Parvin started the period with cash of $$77,000,$ inventory of $$17,000,$ common stock of $$52,000,$

and retained earnings of $$42,000.$

d$.$ Determine the cash flow from operating activities under FIFO and LIFO. $($Amounts to be deducted should be indicated with $m$

sign.$)$