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The accountant at Crane Company has determined that income before income taxes amounted to $6000 using the FIFO costing assumption. If the income tax rate
The accountant at Crane Company has determined that income before income taxes amounted to $6000 using the FIFO costing assumption. If the income tax rate is 25% and the amount of income taxes paid would be $290 greater if the LIFO assumption wer used, what would be the amount of income before taxes under the LIFO assumption? $7160 $6290 $6000 $4840
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