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What is the company after-tax income using lifo

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Whispering Winds Corp. had the following inventory transactions occur during 2022:

                                      Units                                  Cost/unit

Feb. 1, 2022

Purchase                   83                                $83

Mar. 14, 2022

Purchase                       143                             $86

May 1, 2022

Purchase                   101                                    $90

Question 1: The company sold 235 units at $116 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2300, what is the company's after-tax income using LIFO?

  1. $3042.20
  2. $3354.54
  3. $4346.00
  4. $4792.20

Reference no: EM132477437

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