LIFO reserves: White Rose Company Reported year for analysis, 2013 $ 45,200,000 2013 Net income as reported 2013 Inventory reserve 2012 Inventory reserve 2013 income taxes 2013 Income before income taxes 20,000,000 28,000,000 14,000,000 59,200,000

LIFO reserves: White Rose Company Reported year for analysis, 2013 $ 45,200,000 2013 Net income as reported 2013 Inventory reserve 2012 Inventory reserve 2013 income taxes 2013 Income before income taxes 20,000,000 28,000,000 14,000,000 59,200,000

Name: a) Compute the approximate income if inventory has been value at appro
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Description: a) Compute the approximate income if inventory has been value at approximate current cost.b) Briefly explain the impact of increase (decrease) inventory reserve to net income. LIFO reserves: White Rose CompanyReported year for analysis, 20132013 Net

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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