Question: Using the following data, by how much would taxable income change if FIFO is used rather than LIFO? Beginning inventory 4,000 units at $45 Purchases

Using the following data, by how much would taxable income change if FIFO is used rather than LIFO? Beginning inventory 4,000 units at $45 Purchases 5,000 units at $55 Units sold 8,000 O A. Increase by $10,000. O B. Decrease by $80,000. O C. Increase by $80,000. OD. Decrease by $10,000

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