Question 28 3.9 pts Ella Company is a wholesaler of musical instruments. Ella has used the LIFO inventory method for several years. You have the following data for the company's 2020 beginning inventory No. of Units Unit Cost Total Cost Layer from 2017 4,500 $40 purchases $180,000 Layer from 2018 2,500 45 112500 purchases Layer from 2019 2.500 50 475.000 purchases Total 16,500 $767,500 In 2020 Ella was not able to purchased any inventory, Ella sold 15,000 units in 2020. Since the cost per unit rises $5 each year, you can assume that the cost would have been 555 throughout all of 2020. What is the effect on the company's gross margin of the decline in inventory quantity? O $0 O $117,500 lower $75,000 lower O $117,500 higher O $75,000 higher 3.9 pts