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(FIFO and LIFO, Income Statement Presentation) The board of directors of Oksana Corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available. Sales 21,000 units @ $63 Inventory, January 1 6,000 units @ 25 Purchases 6,000 units @ 28 10,000 units @ 32 7,000 units @ 38 Inventory, December 31 8,000 units @ ? Operating expenses $253,200 Complete the condensed income statement for the year on both bases for comparative purposes.

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