Eneri Company's inventory records show the following data: 
A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used?
Definitions:
Downward-Sloping Demand
A principle in economics that illustrates how the quantity demanded of a good decreases as its price increases, holding other factors constant.
Liquor Licenses
Permits issued by government agencies that allow individuals or entities to sell alcoholic beverages legally.
New Market Entrants
Businesses or individuals that enter a market for the first time, introducing competition and innovation.
Long-Run Profitability
The ability of a firm to generate a consistent profit over an extended period of time.
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