Use the following information to answer the following. Income Tax rate is 34% Given the financial information
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Use the following information to answer the following.
Income Tax rate is 34%
Given the financial information presented above what would be the effect on cash in 2015 of converting the company from LIFO to FIFO:
A) Increase of 78.7
B) Decrease of 78.7
C) Decrease of 152.7
D) Increase of 152.7
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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