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Legislators have proposed eliminating LIFO accounting. Understandably, this has been met with much opposition from business interests. Calculate the tax cost your company (DENTSPLY SIRONA

Legislators have proposed eliminating LIFO accounting. Understandably, this has been met with much opposition from business interests. Calculate the tax cost your company (DENTSPLY SIRONA INC) would incur if LIFO accounting was eliminated and inventory balances would have to be adjusted to their carrying value under a method other than LIFO. Assume a 25% tax rate. Relative to your companys current Net Income, how large a cost would this new tax cost represent (calculate the proportion)?

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