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Compute company after-tax income using fifo

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Reference no: EM132483009

Oriole Company had the following inventory transactions occur during 2022:

Units               Cost/unit

Feb. 1, 2022

Purchase           101$101

Mar. 14, 2022

Purchase                 174$105

May 1, 2022 

Purchase                123$110

Question 1: The company sold 286 units at $141 each and has a tax rate of 30%. Assuming that a periodic inventory system is used and operating expenses of $2800, what is the company's after-tax income using FIFO?

  1. $6881.00
  2. $4816.70
  3. $7845.00
  4. $5491.50

Reference no: EM132483009

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