Question: Using the following data, by how much would taxable income change if LIFO is used rather than FIFO? Beginning inventory Purchases Units sold 4 ,

Using the following data, by how much would taxable income change if LIFO is used rather than FIFO?
Beginning inventory
Purchases
Units sold
4,000 units at $73
10,000 units at $83
10,000
A. There is no difference.
B. decrease by $100,000
C. increase by $40,000
D. decrease by $40,000
Using the following data, by how much would taxable income change

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