UNYT e-Exam Cer Exercise II (15 points) BigBook. Com uses LIFO inventory accounting. Notes to BigBook Com's Year 9 financial statements disclose the following (it has a marginal tax rate of 37%); Inventories Year 8 Year 9 Raw materials $392,675 $369,725 Finished products 401,342 377104 794,017 746,829 Less LIFO reserve (42.000 (54.000 $752,017 $692,829 Required: a. Determine the amount by which Year 9 retained earnings of Bigbook Code FIFO is used (5 points) b. Determine the amount by ithich Year 9 net income of Bigbook. Con change is used for both Years 8 and 9. (5 points) c. Discuss the usefulness of LIFO 10 FIFO restantes (5 points)