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On December 31 (fiscal year-end) financial statements of Collette, Inc. reported the following information (in millions) Assume corporate tax rate of 40%. Question: If Collette

image text in transcribed On December 31 (fiscal year-end) financial statements of Collette, Inc. reported the following information (in millions) Assume corporate tax rate of 40%. Question: If Collette had used FIFO method instead of LIFO method, what amount would be added to Collette's retained earnings at the end of 2022 ? On December 31 (fiscal year-end) financial statements of Collette, Inc. reported the following information (in millions) Assume corporate tax rate of 40%. Question: If Collette had used FIFO method instead of LIFO method, what amount would be added to Collette's retained earnings at the end of 2022

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