Nicholas Industries Had the Following Inventory Transactions Occur During 2014

question 174

Multiple Choice

Nicholas Industries had the following inventory transactions occur during 2014: $$\begin{array} { l l c c } && \text { Units } & \text { Cost/unit } \\2 / 1 / 16 & \text { Purchase } & 54 & \$ 45 \\3 / 14 / 16 & \text { Purchase } & 93 & \$ 47 \\5 / 1 / 16 & \text { Purchase } & 66 & \$ 49\end{array}$$ 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 FIFO? (rounded to whole dollars)

• A) $1672
• B) $1840
• C) $2388
• D) $2628

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Definitions:

Muscles

Tissues in the body that have the ability to contract and move parts of the body.

Pelvic Diaphragm

A muscular structure that separates the pelvic cavity above from the perineal region below, providing support for the pelvic organs.

Levator Ani

A broad, thin muscle, situated on either side of the pelvis, which supports the pelvic viscera.

Coccygeus

A muscle located in the pelvic area, involved in supporting the coccyx (tailbone) and controlling movement in the pelvic floor.