ax Given the following data, by how much would taxable income change if periodic LIFO is used rather than periodic FIFO? Beginning Inventory Purchases Units Sold 2,200 units at $25 1.400 units at $30 1,700 Select one: O a. Increase by $7,000 b. Decrease by $7,000 c. Increase by $8,500 d. Decrease by $8,500