20 Guox &t 100 ouvX7, 5 ISo &120000 IN LIFO C06s Gd 2 75ou oX 75t 250oY 1FO 4 (#1) 2 100,000 units@ $7.50 = 750o w July 1, 2014 inventory Purchases during year Sales during year Expenses exclusive of income taxes Cash Balance on June 30, 2014 Income Tax Rate Assume the July 1, 2014 inventory will be the LIFO Base Inventory 400,000 units @ $8.00 350,000 units@$15.00 $1,290,000 $250,000 45% -320 000O 15. If the company should change to the LIFO as of June 30, 2015, then their income befors taxes for the year-ended June 30, 2015, as compared with the income FIFO method, w be increased b $50,000 A. increased by $100,000 B. decreased by $50,000 D. decreased by $100,000 16. Assuming the given tax rate (45%), the use of the LIFO method will result in an approx mate tax expense for fiscal 2015 of ss 2800o0-1290 000YS B. $50,000 C. $72,000 A. $45,000 D. $94,500