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What is the company after-tax income using LIFO

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Question - Pharoah Company had the following inventory transactions occur during 2022:

Units Cost/unit

Feb. 1, 2022 Purchase 134 $56

Mar. 14, 2022 Purchase 231 $58

May 1, 2022 Purchase 164 $61

The company sold 379 units at $78 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2232, what is the company's after-tax income using LIFO?

Reference no: EM132739305

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