Use the data for Rons, Inc., in Exercise to illustrate Rons income tax advantage from using LIFO
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Sales revenue is $8,750, operating expenses are $2,000, and the income tax rate is 32%. How much in taxes would Ron€™s save by using the LIFO method versusFIFO?
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Related Book For 
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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