Eneri Company's inventory records show the following data: A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. Under the LIFO method, cost of goods sold is
A) $28,000.
B) $169,200.
C) $173,040.
D) $178,000.

Question

Eneri Company's inventory records show the following data:  A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. Under the LIFO method, cost of goods sold is
A) $28,000. 
B) $169,200. 
C) $173,040. 
D) $178,000.

Quizplus · Accepted Answer

The Answer of Eneri Company's inventory records show the following data:  A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. Under the LIFO method, cost of goods sold is
A) $28,000. 
B) $169,200. 
C) $173,040. 
D) $178,000.

Eneri Company's Inventory Records Show the Following Data: a Physical