The companys income tax amounts to 35 of income before, Ask an Expert

Accounting

cost of goods sold..................48000

income before income taxes..........10000

income taxes expense(and payments)...3500

net income...........................6500

net cash provided by operating activities........7200

at LIFO cost would have been $51200.

The company's income tax amounts to 35% of income before taxes. describe LIFO effect on it.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M954017

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