The Board of Directors of ACE Supply Corp, is considering whether it should instruct the Accounting Department to shift from a FIFO to a LIFO inventory pricing system. The following information is available: Prepare a condensed income statement for the years on both basis for comparative purposes. Income statements are to be prepared in good form including the cost of goods sold computation. Discuss the factors that the Board of Directors should consider in choosing between the inventory valuation techniques under consideration. Also, what method would you suggest if you were a board member? Why