Springer Anderson Gymnastics prepared its annual financlal statements dated December $31.$ The company reported its Inventory using the LIFO Inventory costing method but did not compare the cost of Its ending Inventory to its market value $($replacement cost$).$ The preliminary income statement follows:

Sales Revenue

$$152,000$

cost of Goods sold

Reginning Inventory

Purchases

Goods Available for Sale

Ending Inventory

Cost of Goods sold

Gross Profit

Operating Expenses

Income from Operations

Income Tax Expense $(30\%)$

Net Income

$\backslash$table$[[\backslash$table$[[$$$18,000$