Multiple Choice Question 50 Cullumber Company began operations on January 1, 2017, and uses the FIFO method in costing its raw material inventory. Management is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income. Accordingly, the following information has been developed: 2018 Final Inventory FIFO LIFO Net Income (computed under the FIFO method) 2017 $620000 546000 1000000 $ 632000 601000 1360000 Based on the above information, a change to the LIFO method in 2018 would result in net income for 2018 of O $1360000. $1329000. $1286000. $1000000. Click if you would like to Show Work for this question: Open Show Work