Holliday Company's inventory records show the following data: A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. What is the cost of goods available for sale?
A) $21,000
B) $36,000
C) $45,000
D) $102,000

Question

Holliday Company's inventory records show the following data:  A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. What is the cost of goods available for sale?
A) $21,000 
B) $36,000 
C) $45,000 
D) $102,000

Quizplus · Accepted Answer

The Answer of Holliday Company's inventory records show the following data:  A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. What is the cost of goods available for sale?
A) $21,000 
B) $36,000 
C) $45,000 
D) $102,000

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