Question: Consider the information about Farmer Brothers LIFO reserve in the footnotes. What would the companys income before taxes be in 2011, 2010, and 2009 if

Consider the information about Farmer Brother’s LIFO reserve in the footnotes. What would the company’s income before taxes be in 2011, 2010, and 2009 if the company had instead used FIFO, which approximates current cost?

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Solution The companys income before taxes would be 2011 5060000 2010 5345000 2009 5630000 Th... View full answer

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