The management of blue spruce corp. asks your in determining the comparative effects of the fifo and lifo inventory cost flow methods. for 2017, the accounting records show these data. inventory, january 1 (9,520 units) $ 31,416cost of 127,290 units purchased 474,422selling price of 94,700 units sold 723,700operating expenses 113,570units purchased consisted of 35,360 units at $3.50 on may 10; 56,860 units at $3.70 on august 15; and 35,070 units at $4.00 on november 20. income taxes are 26%.prepare comparative condensed income statements for 2017 under fifo and lifo.

Match each definition in column 1 with a vocabulary word from column 2." some of the entries in column 2 do not apply costs which do not change with the level of output costs which change with the level of output the change in total costs resulting from an increase in output by one unit function showing the quantities of a particular good demanded at a range of price when the quantity supplied of a good is greater than the quantity demanded when the quantity demanded for a particular good is greater than the quantity supplied the price and quantity determined in a market when the supply equals the demand when revenue exceeds costs when costs exceeds revenue output where revenue = costs