In 2024, Hopyard Lumber changed its inventory method from LIFO to FIFO. Inventory at the end of 2023 of $102,000 would have been $120,000 if FIFO had been used. Inventory at the end of 2024 is $133,000 using the new FIFO method but would have been $123,000 if the company had continued to use LIFO. What is the effect of the change on 2024 cost of goods sold? 2024 cost of goods sold is higher