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. If the company uses FIFO, what is the gross profit for the period?
A) $95,000
B) $99,266
C) $99,960
D) $103,800

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. If the company uses FIFO, what is the gross profit for the period?
A) $95,000 
B) $99,266 
C) $99,960 
D) $103,800

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. If the company uses FIFO, what is the gross profit for the period?
A) $95,000 
B) $99,266 
C) $99,960 
D) $103,800

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