Flay Foods has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2016, Flay decided to change to the LIFO method. As a result of the change, net income in 2016 was $88 million. If the company had used LIFO in 2015, its cost of goods sold would have been higher by $7 million that year. Flays records of inventory purchases and sales are not available for 2014 and several previous years. Last year, Flay reported the following net income amounts in its comparative income statements: