The management of Whispering Company has asked its accounting department to describe the effect upon the companys financial position and its income statements of accounting for inventories on the LIFO rather than the FIFO basis during 2020 and 2021 . The accounting department is to assume that the change to LIFO would have been effective on January 1,2020, and that the initial LIFO base would have been the inventory value on December 31, 2019, The following are the company's financial statements and other data for the years 2020 and 2021 when the F1FO method was employed. 1. Inventory on hand at December 31,2019 , consisted of 52,000 units valued at $3.00 each. 2. Sales (all units sold at the same price in a given year): 2020-195,000 units@ $6.00each 2021-234,000 units@ $7.50 each 3. Purchases (all units purchased at the same price in given year): 2020195,000 units @$33.50 each 2021234,000 units $4.40 each 4. Income taxes at the effective rate of 40% are paid on December 31 each year. Name the account(s) presented in the financial statements that would have different amounts for 2021 if LIFO rather than FIFO had been used, and state the new amount for each account that is named