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In its financial statements KR] reported net income of $291 and an effective tax rate of 29%. Total assets at the beginning of the year
In its financial statements KR] reported net income of $291 and an effective tax rate of 29%. Total assets at the beginning of the year was $3,302 and at the end of the year $3,966. The LIFO reserve at the beginning of the year was $289 and at the end of the year $263 million. Calculate the return on assets based solely on the as-reported data (i.e., disregarding the impact of LIFO). Present your answer in percentage terms, rounded to two decimal places, e.g., 20.00%. QUESTION 10 WalkerCo reported cost of goods sold of $3,381. Inventory at the beginning of the year was $327 and at the end of the year $421. The LIFO reserve at the beginning of the year was $140 and at the end of the year $99. If the company had used the FIFO inventory costing method, what would the company have reported for cost of goods sold
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