Dole Industries had the following inventory transactions occur during 2014: $\begin{array}{cccc}
&&\text { Units } & \text { Cost/unit } \
\text { Feb. 1,2014 } & \text { Purchase } & \text {72 } & \text { \$ 90 } \
\text { Mar. 14, 2014 } & \text { Purchase } & 124 & \$ 94 \
\text { May 1, 2014 } & \text { Purchase } & 88 & \$ 98 \
&
\end{array}$ The company sold 204 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using LIFO? (rounded to whole dollars)

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The Answer of Dole Industries had the following inventory transactions occur during 2014: $\begin{array}{cccc}
&&\text { Units } & \text { Cost/unit } \
\text { Feb. 1,2014 } & \text { Purchase } & \text {72 } & \text { \$ 90 } \
\text { Mar. 14, 2014 } & \text { Purchase } & 124 & \$ 94 \
\text { May 1, 2014 } & \text { Purchase } & 88 & \$ 98 \
&
\end{array}$ The company sold 204 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using LIFO? (rounded to whole dollars)

Dole Industries Had the Following Inventory Transactions Occur During 2014