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Difference in tax? FIFO / LIFO 8 The accountant at Marigold Company is figuring out the difference in income taxes the company will pay depending
Difference in tax? FIFO / LIFO 8
The accountant at Marigold Company is figuring out the difference in income taxes the company will pay depending on the choice of either FIFO or LIFO as an inventory costing method. The tax rate is 30% and the FIFO method will result in income before taxes of $8200. The LIFO method will result in income before taxes of $7900 What is the difference in tax that would be paid between the two methods? $210, O $300 $90. O Cannot be determined from the information provided Step by Step Solution
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