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AAA Hardware uses the LIFO method to report its inventory Inventory at the beginning of the year consisted of 77,000 units of the company's one product

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AAA Hardware uses the LIFO method to report its inventory Inventory at the beginning of the year consisted of 77,000 units of the company's one product. These units cost $12 each During the year 67.000 units were purchased at a cost of $15 each and 70.000 units were sold. Near the end of the fiscal year, management is considering the purchase of an additional 8,500 units at $15. Required: 1. What would be the effect of this purchase on income before income taxes? 2. What would be the effect of this purchase on income before income taxes using FIFO? 1 2 Income before income taxes would be Income before income taxes would be