Romanoff Industries Had the Following Inventory Transactions Occur During 2015

question 100

Multiple Choice

Romanoff Industries had the following inventory transactions occur during 2015: $\begin{array}{llll}&&\text { Units }&\text { Cost/unit }\\2 / 1 / 15 & \text { Purchase } & 54 & \$ 45 \\3 / 14 / 15 & \text { Purchase } & 93 & \$ 47 \\5 / 1 / 15 & \text { Purchase } & 66 & \$ 49\end{array}$ The company sold 150 units at $70 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's after-tax income using LIFO? (rounded to whole dollars)

• A) $2,323
• B) $2,486
• C) $3,318
• D) $3,552

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Definitions:

Post-structuralism

An intellectual movement criticizing the assumptions and methodologies of structuralism, emphasizing the instability of meaning and the complexities of power relations.

Abnormalizing

The process of labeling or treating certain behaviors, individuals, or groups as deviant from societal norms.

Othering

The process of perceiving or portraying someone or a group as fundamentally different or alien, used to emphasize and justify discrimination or marginalization.

Normalizing

The process of making something into a norm or standard within a society or culture, often involving the minimization of deviance from that standard.