Dole Industries had the following inventory transactions occur during 2014: 
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)
A) $19,528
B) $18,920
C) $6,784
D) $6,176
Correct Answer:
Verified
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