AAA Hardware uses the LIFO method to report its inventory. Inventory at the beginning of the year consisted of 23,000 units of the company's one product. These units cost $14 each. During the year, 73,000 units were purchased at a cost of $17 each and 80,500 units were sold. Near the end of the fiscal year, management is considering the purchase of an additional 9,000 units at $17. 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? ok 1 Income before income taxes would be Income before income taxes would be 2 nt rences