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In answering the questions below, assume a tax rate of 21% for all periods. Also, assume that John Deere paid all its income taxes in
In answering the questions below, assume a tax rate of 21% for all periods. Also, assume that John Deere paid all its income taxes in the reporting period in which they are due. 1. ( 2 points) What is the net book value of John Deere's inventories on October 30,2022 ? S million 2. ( 3 points) Companies often cite income tax considerations as a primary reason for favoring LIFO over other inventory cost flow assumptions. Did John Deere save income taxes in the fiscal year ending October 30,2022 , by using LIFO as its inventory cost flow assumption for parts of its inventories? If so, how much? If saved/incurred additional taxes, how much $ million If insufficient information explain
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