The management of Felipe 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 2015 if either the FIFO or the LIFO method had been used. For 2015, the accounting records show these data:

Purchases were made quarterly as follows.

Operating expenses were $133,700, and the companys income tax rate is 40%.

Prepare comparative condensed income statements for 2015 under FIFO and LIFO. (Show computations of ending inventory.) (Round answers to 0 decimal places, e.g. 1,250.)

How much more cash will be available for management under LIFO than under FIFO?

Inventories Purchases and Sales Beginning (9,940 units) Ending (24,140 units) $19,880 Total net sales (255,600 units) Total cost of goods purchased (269,800 units) $1,060,740 867,620