Carla Vista 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: Final Inventory 2023 2024 FIFO $355000 $395000 LIFO 275000 335000 Net Income (computed under the FIFO method) 535000 785000 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 $805000. $725000. $845000. $785000.