Assuming a 25\% tax rate, what is the cumulative (through February 1, 2020) tax effect of the use of LIFO to determine inventory costs? d. Kroger reported net earnings of $1,512 million in its fiscal year 2020 income statement. Assuming a 25% tax rate, what amount of net earnings would Kroger report if the company used the FIFO inventory costing method? e. Kroger reported merchandise costs (cost of goods sold) of $95,294 million in fiscal year 2020.
