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.