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Franco Company uses the FIFO inventory method. Its 2010, the company reported net income of...

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Accounting

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Franco Company uses the FIFO inventory method. Its 2010, the company reported net income of 840,000. Had average- cost been used, the company would have reported net income of 760,000. Assuming a 40% tax rate, what is the impact of the inventory cost flow assumption on Franco's taxes for 2010 2:43 PM

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