(20pts) A gasoline distributor had 110,000 gallons of gasoline valued at $2.80/gallon, They bought 120,000 more gallons at $2.50/gallon, and subsequently 100,000 more gallons Split equally at $2.90 each. After that, they sold 180,000 gallons at $3,60 each. Their selling and administrative expenses are $25,000 and their tax rate is 30%, Will they pay more taxes if they value their inventory using FIFO or LIFO, and what will be the difference between the two methods?

What widX be the differenoe between the two nethods