AAA Hardware uses the LIFO method to report its inventory. Inventory at the beginning of the year consisted of 29,000 units of the company's one product. These units cost $15 each. During the year, 79,000 units were purchased at a cost $18 each, and 83,500 units were sold. Near the end of the fiscal year, management is considering the purchase of an additional 12,000 units at $18. 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