Zap Company manufactures computer hard drives. The cost of hard drives has been declining for years. Sales totaled $4,000,000 last year. Zap's ending inventory was valued at $300,000 under FIFO. The company's new president is trying to cut taxes and asks you whether the company should switch to LIFO. What do you recommend? A. LIFO is desirable because it ordinarily results in higher reported income for accounting purposes than FIFO. The company should consider electing the "lower of cost or market" in conjunction with LIFO. B. LIFO is undesirable because it normally results in lower taxable income when prices are declining. If the company is not doing so now, it might consider electing the "lower of cost or market" in conjunction with FIFO. This would enable the company to write down inventory on hand as prices are lowered. C. LIFO is desirable because it results in less taxable income. The company should consider electing the "lower of cost or market" in conjunction with LIFO. Inventory cost would be easier to track under the LIFO method. OD. LIFO is undesirable because it will lock-in older, higher costing inventory layers. If the company is not doing so now, it might consider electing the "lower of cost or market" in conjunction with FIFO. This would enable the company to write down inventory on hand as prices are lowered