The net income per books of Debra King Company was determined without knowledge of the errors indicated below. Year 2015 2016 2017 2018 2019 2020 Net Income per Books $48,900 50,950 52,950 55,100 52,170 59,160 Error in Ending Inventory Overstated $ 2,770 Overstated Understated 12.030 No error Understated 1,970 Overstated 8.740 Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Net Income Per Books Corrected Net Errors in Inventories Understatement Overstatement Dec. 31 Overstatement Jan. 1 Understatement Dec. 31 Year 2015 2016 2017 2018 $48,900 50,950 52,950 55,100 57,170 50.160 2020 The following is a record of Splish Company's transactions for Boston Teapots for the month of May 2020 May 1 Balance 496 units 12 Purchase 744 units 28 Purchase 496 units $21.00 May 10 Sale 372 units @ $37.00 $27.00 20 Sale 670 $37.00 $30.00 Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 694 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? (1) FIFO Ending Inventory C Assuming that perpetual records are maintained and they tle into the general ledger, calculate the ending inventory using (1) FIFO and (2) UFO. FIFO LIFO Ending Inventory ... . ... Show Work