Required:
The disclosure note indicates an inventory liquidation during 2010 and 2011. By how much did net income in 2010 increase due to the liquidation? Assume an income tax of 40%.

Question

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The Answer of Required:
The disclosure note indicates an inventory liquidation during 2010 and 2011. By how much did net income in 2010 increase due to the liquidation? Assume an income tax of 40%.

Required: the Disclosure Note Indicates an Inventory Liquidation During 2010 and and 2011