Mirror Image Co uses the LIFO method and reports inventories of $ 1 , 3 1 8 in 2 0 1 8 and $ 1 , 2 2 0 in 2 0 1 7 The reported LIFO reserve is $ 9 7 in 2 0 1 8 and $ 8 9 in 2 0 1 7 The Cost of Goods Sold was $ 2 , 1 0 0 in 2 0 1 8 All numbers are in millions and the tax rate has always been 2 1 a What would the ending 2 0 1 8 inventory balance be using FIFO costing b What would 2 0 1 8 COGS be using FIFO costing c As a result of using LIFO did the company pay more or less taxes in 2 0 1 8 How much more or less d Did the company pay more or less taxes in all the the years of using LIFO How much more or less

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Mirror Image Co   uses the LIFO method and reports inventories of $ 1 , 3 1 8 in 2 0 1 8 and $ 1 , 2 2 0 in 2 0 1 7   The reported LIFO reserve is $ 9 7 in 2 0 1 8 and $ 8 9 in 2 0 1 7   The Cost of Goods Sold was $ 2 , 1 0 0 in 2 0 1 8   All numbers are in millions and the tax rate has always been 2 1     a   What would the ending 2 0 1 8 inventory balance be using FIFO costing  b   What would 2 0 1 8 COGS be using FIFO costing  c   As a result of using LIFO did the company pay more or less taxes in 2 0 1 8   How much more or less  d   Did the company pay more or less taxes in all the the years of using LIFO  How much more or less

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Question: Mirror Image Co . uses the LIFO method and reports inventories of $ 1 , 3 1 8 in 2 0 1 8 and $

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