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:

Transparent Film

A thin, clear dressing used to cover and protect wounds, allowing visual inspection without removal.

Nursing Assistive Personnel

Health care workers who support nurses in providing basic care activities, often including monitoring vital signs and assisting with daily living activities.

Nonsterile Moist-to-Dry

A wound care technique involving the application of a moist nonsterile dressing to a wound and allowing it to dry, thereby debriding (cleaning) the wound as it adheres to and removes dead tissue when the dressing is changed.

Hydrogel Dressing

A water-based dressing used to provide moisture to dry wounds, facilitating healing.