Emley Company has been using the LIFO method of inventory valuation for 10 years, since it began operations. Its 2012 ending inventory was $60,000, but it would have been $90,000 if FIFO had been used. Thus, if FIFO had been used, Emley's income before income taxes would have been $30,000 less in 2012. $30,000 less over the 10-year period. $30,000 greater over the 10-year period. $30,000 greater in 2012.