Dole Industries had the following inventory transactions occur during 2022: The company sold 255 units at $126 each and has a tax rate of 30%.Assuming that a periodic inventory system is used, and operating expenses of $2,500, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A)$5,220
B)$5,404
C)$4,186
D)$3,654

Question

Dole Industries had the following inventory transactions occur during 2022:  The company sold 255 units at $126 each and has a tax rate of 30%.Assuming that a periodic inventory system is used, and operating expenses of $2,500, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A)$5,220 
B)$5,404 
C)$4,186 
D)$3,654

Quizplus · Accepted Answer

The Answer of Dole Industries had the following inventory transactions occur during 2022:  The company sold 255 units at $126 each and has a tax rate of 30%.Assuming that a periodic inventory system is used, and operating expenses of $2,500, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A)$5,220 
B)$5,404 
C)$4,186 
D)$3,654

Dole Industries Had the Following Inventory Transactions Occur During 2022