Name the line item on the balance sheet and income statement impacted by the choice between LIFO and FIFO accounting.

Balance Sheet as of 12/31/2016 Figures in Millions Liabilities and Shareholders' Equity: Assets: Current assets: Current liabilities: $ 5 $ $ 20 $ Cash 20 Accounts Payable Debt due in 1 year Total Current liabilities 25 Accounts Receivable 45 $ 30 Inventories Total Current assets 85 $ 105 200 Total Long-Term Liabilities Shareholders Equity Long term assets: Property, plant and equipment, net Total Long term assets $ 250 250 $ Total Assets: Total Liabilities and equity: 335 335 Income Statement for year ended 12/31/16 $ Net sales 500 Cost of Goods Sold 350 Gross Margin 150 Operating expenses 75 $ Earnings before l, T, D/A 75 $ 25 Depreciation $ 50 EBIT $15 Interest $ 35 Earnings before Taxes Taxes 30 Net income 1:1:11