Multiple Choice
Henri Company uses the average-cost inventory method. Its 2014 ending inventory was €40,000, but it would have been €60,000 if FIFO had been used. Thus, if FIFO had been used, Henri's income before income taxes would have been
A) €20,000 greater.
B) €20,000 less.
C) the same.
D) not determinable without the tax rate.
Correct Answer:
Verified
Correct Answer:
Verified
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