Question: Given the following data, by how much would taxable income change if FIFO is used rather than LIFO? Beginning inventory 2,500 units at $10 Purchases

Given the following data, by how much would taxable income change

Given the following data, by how much would taxable income change if FIFO is used rather than LIFO? Beginning inventory 2,500 units at $10 Purchases 5,000 units at $20 Units sold 3,000 a. decrease by $35,000 b. Increase by $35,000 O c. Decrease by $25000 d increase by $25.000

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