The board of directors of Novak Corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available. Sales 21,000 units @ $63 Inventory, January 1 5,900 units @ 25 Purchases 5,400 units @ 28 10,100 units @ 31 6,400 units @ 38 Inventory, December 31 6,800 units @ ? Operating expenses $250,000