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Romanoff Industries Had the Following Inventory Transactions Occur During 2022

Question 7

Multiple Choice

Romanoff Industries had the following inventory transactions occur during 2022: Romanoff Industries had the following inventory transactions occur during 2022: The company sold 150 units at $70 each and has a tax rate of 30%.Assuming that a periodic inventory system is used, what is the company's after-tax income (rounded to whole dollars) using FIFO? A) $2,322 B) $2,486 C) $3,318 D) $3,552 The company sold 150 units at $70 each and has a tax rate of 30%.Assuming that a periodic inventory system is used, what is the company's after-tax income (rounded to whole dollars) using FIFO?


A) $2,322
B) $2,486
C) $3,318
D) $3,552

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