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What is the tax savings for using LIFO periodic instead of FIFO periodic, assuming the below information? Inventory under FIFO $ 315,000 Inventory under LIFO
What is the tax savings for using LIFO periodic instead of FIFO periodic, assuming the below information?
| Inventory under FIFO | $ 315,000 |
| Inventory under LIFO | $ 240,000 |
| Tax rate | 30% |
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
4th edition
978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372
