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Lockman Company has the following information related to its inventory and sales volume for the...

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Accounting

Lockman Company has the following information related to its inventory and sales volume for the most recent month:

Assuming a 30% tax rate, Lockmans net income for the month will be ________ if it uses FIFO instead of LIFO.

1) $2,100 higher

2) $2,100 lower

3) $1,500 higher

4) $3,000 lower

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