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Business, 17.12.2019 02:31 ochoanene822

Chandler corporation reported pretax book income of $2,000,000. tax depreciation exceeded book depreciation by $500,000. during the year the company capitalized $250,000 into ending inventory under §263a. capitalized inventory costs of $150,000 in beginning inventory were deducted as part of cost of goods sold on the tax return. compute the company’s taxes payable or refundable.

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