Question: Ace Hardware uses the LIFO method to report its inventory. Inventory at the beginning of the year consisted of 5,000 units of the company's one

Ace Hardware uses the LIFO method to report its inventory. Inventory at the beginning of the year consisted of 5,000 units of the company's one product. These units cost $12 each. During the year, 30,000 units were purchased at a cost of $17 each, and 25,000 were sold. Near the end of the fiscal year, management is considering the purchase of an additional 5,000 units at $18. What would be the effect of this purchase on income before income taxes? 12pt Paragraph B

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