The accountant at Patton Company has determined that income before income taxes amounted to $8,000 using the FIFO costing assumption. If the income tax rate is 30% and the amount of income taxes paid would be $300 greater if the LIFO assumption were used, what would be the amount of income before taxes under the LIFO assumption?
A. $7,000
B. $7,700
C.$8,300
D. $9,000