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. Assume that Deeres inventory balances for accounting and for tax purposes are the same. Estimate the cumulative amount of income taxes through October 31,
. Assume that Deeres inventory balances for accounting and for tax purposes are the same. Estimate the cumulative amount of income taxes through October 31, 2012, that Deere has deferred by choosing the LIFO method of inventory costing instead of the FIFO method. For these calculations, assume that the marginal tax rate for Deere is 35%.
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