Blossom Company began operations on January $1,2023,$ and uses the FIFO method in costing its raw material inventory. Management

is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income.

Accordingly, the following information has been developed:

Based upon the above information $($ignore income tax considerations$),$ a change to the LIFO method in $2024$ would result in net

income for $2024$ of

$$625000.$

$$745000.$

$$705000.$

$$685000.$