2) Lanier Company began operations on January 1, 2010, and uses the FIFO method in costing its raw material inventory. Management is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income. Accordingly, the following information has been developed: Final Inventory 2010 2011 FIFO $320,000 $360,000 LIFO 240,000 300,000 Net Income (computed under the FIFO method) 500,000 600,000 Based upon the above information, a change to the LIFO method in 2011 would result in net income for 2011 of: a) $600,000 b) $620,000 c) $660,000 d) $540,000