You are a financial advisor with a client in the wholesale produce business that just completed its first year of operations. Due to the weather conditions, the cost of acquiring produce to resell has escalated during the latter part of this period. Your client, Javonte Gish, mentions that because her business sells perishable goods, she has striven to maintain a FIFO flow of goods. Although sales are good, the increasing cost of inventory has put the business in a tight cash position. Gish has expressed concern regarding the ability of the business to meet income tax obligations.

Required:

Do you think that Ms$.$ Gish should be using the FIFO inventory costing method or the LIFO inventory costing method to address her concern about the ability to meet the company's income tax obligations? Please explain in detail the method selected and the justification for this inventory costing method.