Question 14 2 pts Chewy Company began operations in 2013 and uses the average cost method in costing its inventory. In 2014, Chewy is investigating a change to the LIFO method. Before making that determination Chewy desires to determine what effect such a change will have on net income. Chewy has compiled the following information: 2013 2014 Ending Inventory using: Average cost $180,000 $200,000 LIFO 110,000 Net income (computed using the average-cost method) 120,000 170,000 Assume a 40% tax rate. If Chewy adopted LIFO in 2014, net income would be $80.000 $116,000 e $170,000