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Eneri Company's Inventory Records Show the Following Data: a Physical

question 65

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Eneri Company's inventory records show the following data: Eneri Company's inventory records show the following data:   A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used? A)  $1,760 additional taxes B)  $992 additional taxes C)  $786 additional taxes D)  $992 tax savings A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used?

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