Lee Industries had the following inventory transactions occur during 2011: 
The company sold 153 units at $63 each and has a tax rate of 30%.Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO? (rounded to whole dollars)
A) $2,316
B) $2,544
C) $1,781
D) $1,620
Correct Answer:
Verified
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