Question: LIFO reserves Rhodes Company Reported year for analysis 2011 2011

LIFO reserves: Rhodes Company Reported year for analysis, 2011
2011 Net income as reported $ 90,200,000
2011 Inventory reserve 50,000,000
2010 Inventory reserve 46,000,000 2011 Income taxes 55,000,000
2011 Income before income taxes 145,200,000

Required
Compute the approximate income if inventory had been valued at approximate current cost.


View Solution:


Sale on SolutionInn
Sales0
Views156
Comments
  • CreatedMay 28, 2014
  • Files Included
Post your question
5000