Umbrella Corp uses LIFO method to report inventory. Inventory at the beginning of the year consisted of 10,000 units of the company's one product for $15 each. During the year:

60,000 units were purchased at the cost of $18 each.

64,000 units were sold.

Near the end of the fiscal year, management is considering purchasing an additional 5,000 units at $18.

What would the effect of this purchase be on income before taxes?

Would the answer be the same if the company used FIFO instead of LIFO?

Note: please provide your answer and explanations on a Word or Excel sheet as hand writing is difficult to read. I would appreciate it.