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f a company has an inventory liquidation of $76,400 under the LIFO inventory method and is in the 40% tax bracket, which of the following

f a company has an inventory liquidation of $76,400 under the LIFO inventory method and is in the 40% tax bracket, which of the following is not true?

a.Net income increased by $45,840.

b.Income tax expenses increased by $30,560.

c.Net sales increased by $76,400.

d.Gross profit increased by $76,400.

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