The management of Sage Co., SA is reevaluating the appropriateness of using its present inventory cost flow method. They request your help in determining the results of operations for 2017 if either the FIFO method or the average-cost method had been used. For 2017, the accounting records show the following data. Inventories Beginning (14,100 units) Ending (21,150 units) 29,100 Purchases and Sales Total net sales (317,250 units) Total cost of goods purchased (324,300 units) 1,219,650 919,461 Purchases were made quarterly as follows. Quarter Total Cost 1 2 Units 84,600 70,500 70,500 98,700 324,300 Unit Cost 2.62 2.82 2.92 2.97 3 221,652 198,810 205,860 293,139 919,461 4 Operating expenses were 144,400, and the company's income tax rate is 33%. Prepare comparative condensed income statements for 2017 under FIFO and average-cost. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to o decimal places, e.g. 125.) SAGE CO., SA Condensed Income Statement For the Year Ended December 31, 2017 FIFO Average-cost Sales Revenues SAGE CO., SA Condensed Income Statement For the Year Ended December 31, 2017 FIFO Average-cost Sales Revenues Cost of Goods Sold Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Income before Income Taxes Income Tax Expense Net Income / (Loss) Which cost flow method (FIFO or average-cost) produces the more meaningful inventory amount for the statement of financial position? method produces the more meaningful inventory amount. Which cost flow method (FIFO or average-cost) is more likely to approximate actual physical flow of the goods? method is most likely to approximate actual physical flow. How much additional cash will be available for management under average-cost than under FIFO? Additional cash will be available for management