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Givoly Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2:

			Units			Unit Cost
Inventory, December 31, prior year				6,200			$	8
For the current year:
Purchase, March 5				18,200				6
Purchase, September 19				9,200				2
Sale ($26 each)				8,600
Sale ($28 each)				15,200
Operating expenses (excluding income tax expense)	$	392,000

3. Which inventory costing method may be preferred for income tax purposes?