Multiple Choice Question 87 Sheffield Company's inventory records show the following data: Units Unit Cost 9800 $9.00 9200 6300 Inventory, January 1 Purchases: June 18 7.00 November 8 6.00 A physical inventory on December 31 shows 3500 units o an effective tax rate of 22%. Sheffield uses the periodic invent than FIFO is used? n hand. Sheffield sells the units for $13 each. The company has ory method. What is the difference in taxes if LIFO rather $1542 tax savings $2310 additional taxes $1542 additional taxes $1336 additional taxes