Sunland Company had the following inventory transactions occur during 2022:         Units   Cost/unit Feb. 1, 2022   Purchase   104   $43 Mar. 14, 2022   Purchase   179   $45 May 1, 2022   Purchase   127   $47 The company sold 294 units at $60 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1728, what is the company’s after-tax income using LIFO?   $2007.60 $1699.60 $2428.00 $2868.00

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Sunland Company had the following inventory transactions occur during 2022:
       
Units
 
Cost/unit
Feb. 1, 2022
 
Purchase
  104   $43
Mar. 14, 2022
 
Purchase
  179   $45
May 1, 2022
 
Purchase
  127   $47

The company sold 294 units at $60 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1728, what is the company’s after-tax income using LIFO?

 

$2007.60
$1699.60
$2428.00
$2868.00
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