During the first quarter of 2018, LaMarque Inc. reports the following activities:

• Revenue totaled $48,000. Of this amount, $12,000 was in cash and $36,000 was on account.
• The cost of goods sold for this revenue was $20,000.
• Employees earned $18,000. Of this amount, $15,000 was paid in the first quarter, and $3,000 will be paid in the first week of the second quarter.

LaMarque has an income tax rate of 25%

A. Calculate LaMarques income tax expense for the first quarter.

Bluet, Ltd. owns the following inventory lots on June 1, 2019:

During June, Bluet sells 300 units of inventory at a price of $60 per unit. Bluet does not purchase any inventory during June

B. If Bluet has a 30% income tax rate, calculate the difference in income tax between using FIFO and LIFO to calculate the cost of goods sold.