Nicholas Industries Had the Following Inventory Transactions Occur During 2014

question 39

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 140 units at $65 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) $1672
• B) $1840
• C) $2388
• D) $2628

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Definitions:

Cultural Branding Model

is a strategy that ties a brand to the cultural narratives and practices of its target audience, aiming to resonate deeply with their identity and values.

Relevance

The degree to which something is related or useful to the matter at hand, often used to assess information, strategies, or actions.

Douglas Holt

An academic and author known for his work on branding and cultural strategy in marketing.