Carbondale Company had the following data available for the last six months:

Beg. inventory 10 units $55 per unit

Purchase, 3/1 30 units $60 per unit

Sale, 4/1 25 units $100 per unit

Purchase, 5/1 25 units $65 per unit

Sale, 6/1 20 units $100 per unit

Operating expenses are $2,000 per month. The income tax rate is 30%.

Required: 1. Compute Cost of Goods Sold for the six months ending June 30 using: a. FIFO perpetual b. LIFO perpetual

2.How much will the company save in income taxes if they use LIFO instead of FIFO