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Using the Following Data,by How Much Would Taxable Income Change

question 42

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Using the following data,by how much would taxable income change if LIFO is used rather than FIFO? Using the following data,by how much would taxable income change if LIFO is used rather than FIFO?   A) There is no difference. B) Increase by $20,000. C) Decrease by $20,000. D) Decrease by $60,000.


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