Emley Company has been using the average cost method of inventory valuation for 10 years, since it began operations. Its 2019 ending inventory was 40,000, but it would have been 60,000 if FIFO had been used. Thus, if FIFO had been used, Emley's income before income taxes would have been

Select one:

a. 20,000 greater in 2019.

b. 20,000 less over the 10-year period.

c. 20,000 greater over the 10-year period.

d. 20,000 less in 2019.