Dole Industries Had the Following Inventory Transactions Occur During 2014

question 189

Multiple Choice

Dole Industries had the following inventory transactions occur during 2014: The company sold 204 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2,000, what is the company's after-tax income using LIFO? (rounded to whole dollars)

• A) $4,176
• B) $4,323
• C) $3,349
• D) $2,923

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Edgar Schein

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