User Account

All Pages

What is the company after-tax income using lifo

Assignment Help Financial Accounting
Reference no: EM132643244

Sunland Company had the following inventory transactions occur during 2022:

                              Units        Cost/unit
Feb. 1, 2022 Purchase 104        $43

Mar. 14, 2022 Purchase 179       $45

May 1, 2022 Purchase 127         $47

Problem 1: The company sold 294 units at $60 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1728, what is the company's after-tax income using LIFO?

a. $2007.60

b. $2428.00

c. $2868.00

d. $1699.60

Reference no: EM132643244

Questions Cloud

How to conduct high stakes negotiations in the digital age : How to Conduct High Stakes Negotiations in the Digital Age without Being Short-changed. Explain in detail and provide the specific example.
What the value of whispering winds corp inventory : Whispering Winds Corp. uses the average cost method. What the value of Whispering Winds Corp.'s inventory at May 31, 2022 is?
What is the interest rate of the savings account : The future value of the investment at the end of four years is $4,016. What is the interest rate of the savings account
What is the probability of a fair coin toss : What is the probability of a fair coin toss resulting in "heads"?a: 100%b: you can't tellc: 50%d: 10%
What is the company after-tax income using lifo : Assuming that a periodic inventory system is used, and operating expenses of $1728, what is the company's after-tax income using LIFO?
Internal-external security lighting at datacenter facilities : Discuss the importance of internal and external security lighting at datacenter facilities
Compute the range-interquartile range-sample variance : Compute the range, interquartile range, sample variance, and sample standard deviation.
Record the journal entries for the month of July : July 15 Completed security services for a graduation event and sent the client a bill for $1,100. Record the journal entries for the month of July
What is company WACC Assume the tax rate is thirty percent : The annual yield on the company's debt is 6% and the required rate of return on the stock is 14.6%. What is company's WACC? Assume the tax rate is 30%

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd