explain the following paragraph in a small sentance

In chapter $3\text{'}$s case study, we look at the cost of sales adding aspects of inventory to the cost of goods sold. Walley's wallpaper company opted for a 'first in$,$ first out' basis of inventory accounting. This means the newest products are the $1$st to be sold; Much like a grocery store does with produce to reduce the amount of rotten produce they have to throw away. Because of this, Wally's will show a higher gross average per period. Ultimately, the company will pay more taxes in by doing this. If they goes the route of 'First in$,$ Last out' then the company would pay less in taxes which would be better since she isn't a large corporation. One benefit of using the FIFO accounting method is to show robust growth to secure financing from lending institutions and it doesn't seem like Wally's is having a hard time with securing financing. Wally's should have opted for LIFO as they would again, pay less taxes. Unfortunately, the text mentioned that once a business owner picks FIFO or LIFO then they are locked in with using that method till perpetuity.