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Find a publicly traded company using LIFO Review the last two annual reports specifically the balance sheet, income statement and the footnotes related to LIFO.

Find a publicly traded company using LIFO

Review the last two annual reports specifically the balance sheet, income statement and the footnotes related to LIFO. Share your key observations with your classmates. Answer the following questions: If they would use FIFO, a) what would happen to their most recent Net Income (increase, decrease, stay same? and why? b) What is the impact on their tax liability if they used FIFO

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