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The manager of Harbour City Ltd is given a bonus based on profit before tax. The profit after tax is $5 600 for FIFO and
The manager of Harbour City Ltd is given a bonus based on profit before tax. The profit after tax is $5 600 for FIFO and $4 900 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO? $250 O $140 O $200 O $700
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