Business, 06.03.2020 18:34 Enaszr9657

1. The company reported LIFO cost of goods sold of $31,049 million. Calculate the amount that would be reported for cost of goods sold had Caterpillar used the FIFO inventory method for all of its inventory during 2017. 2. Using the cost of goods sold calculated in requirement 1, how much higher (lower) would income before taxes be, if Caterpillar had used the FIFO inventory method for all of its inventory?

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1. The company reported LIFO cost of goods sold of $31,049 million. Calculate the amount that would...

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