Clayton Company's inventory was 12,000 units with a cost of $ 160 each on 2010 January 1. During 2010, numerous units were purchased and sold. Also during 2010, the purchase price of this product fell steadily until at year-end it was $ 120. The inventory at year-end was 18,000 units. State which method of inventory measurement, LIFO or FIFO, would have resulted in higher reported net income, and explain briefly.