Waterway companies inventory record show the following data inventory January 1st 10100 units unit cost $9 purchases June 18th 9000 unit cost $9 November 8th unit 6,200 unit cost $7

a physical inventory on December 31st shows 4,200 units on hand what are way sells the units for $14 each the company has an effective tax rate of 24% Waterway uses the periodic inventory method what is the difference in taxes in lifo rather than fifo is used.