The management of Blossom Inc. is reevaluating the appropriateness of using its present inventory cost flow method, which is average$-$cost$.$ The company requests your help in determining the results of operations for $2027$ if either the FIFO or the LIFO method had been used. For $2027,$ the accounting records show these data:InventoriesPurchases and SalesBeginning $(4,900$ units$)$$$9,800$Total net sales $(126,000$ units$)$$$522,900$Ending $(11,900$ units$)$Total cost of goods purchased $(133,000$ units$)359,450$Purchases were made quarterly as follows.QuarterUnitsUnit CostTotal Cost$35,000$$$2\mathrm{.}45$$$85,75028,0002\mathrm{.}6072,80028,0002\mathrm{.}7577,00042,0002\mathrm{.}95123,900133,000$$$359,450$Operating expenses were $130,000,$ and the companys income tax rate is $20\%$ Prepare comporative condensed income statements for $2027$ under FIFO and LIFO