Dole Industries had the following inventory transactions occur during 2014: The company sold 204 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2,000, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A) $4,176
B) $4,323
C) $3,349
D) $2,923

Question

Dole Industries had the following inventory transactions occur during 2014:  The company sold 204 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2,000, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A) $4,176 
B) $4,323 
C) $3,349 
D) $2,923

Quizplus · Accepted Answer

The Answer of Dole Industries had the following inventory transactions occur during 2014:  The company sold 204 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2,000, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A) $4,176 
B) $4,323 
C) $3,349 
D) $2,923

Dole Industries Had the Following Inventory Transactions Occur During 2014