The board of directors of Carla Corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available. Sales 21,200 units @ $60 Inventory, January 1 6,200 units @ 24 Purchases 6,400 units @ 26 10,300 units @ 30 7,600 units @ 36 Inventory, December 31 9,300 units @ ? Operating expenses $240,000
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