Given the following data, by how much would taxable income change if periodic FIFO is used rather than periodic LIFO? 1.Beginning Inventory -2200 units at $25 2.Purchases -1,400 units at $30
3.4.Units Sold -1,700 Select one: a. Decrease by $8,500 b. Increase by $8,500 c Decrease by $7,000 d. Increase by $7,000