The Kay Company currently uses FIFO for inventory valuation. Their records for the year ended June 30,2015 reflect the following: 5. If the company should change to the LIFO as of June 30,2015 , then their income before taxes for the year-ended June 30,2015 , as compared with the income FIFO method, will be A. increased b $50,000 B. decreased by $50,000 C. increased by $100,000 D. decreased by $100,000 Assuming the given tax rate (45%), the use of the LIFO method will result in an approximate tax expense for fiscal 2015 of A. $45,000 B. $50,000 C. $72,000 D. $94,500