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ABC Company has a beginning inventory of 600 units at $9 per unit. The following purchases are made during the year: Units Per Unit March

ABC Company has a beginning inventory of 600 units at $9 per unit. The following purchases are made during the year: Units Per Unit March 1 400 $ 11 June 10 600 12 October 25 300 14 December 14 500 15 Total 1,800 Ending inventory on December 31 is 550 units. What is the difference in net income after tax between FIFO and LIFO assuming the company is subject to a 30% tax rate?

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