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Question 7 of 25 View Policies Current Attempt in Progress Swifty Bookstore had 470 units on hand at January 1. casting $9 each. Purchases and sales during the month of January were as follows Date Purchases Sales Jan 14 385 @ $115 17 230 @ $ 12 25 230 a $10 29 290 a $15 Swifty does not maintain perpetual inventory records. According to a physical count. 255 units were on hand at January 31 The cost of the inventory at January 31 under the LIFO method is: a $2600 $2205 $3120 $2080 Save for later Attempts: 0 of 1 used Submit Answer Question 8 of 25 View Policies Current Attempt in Progress The manager of Marigold Company is given a bonus based on income before income taxes. Net income, after taxes, is $10200 for FIFO and $9200 for LFO The tax rate is 2596. The bonus rate is 15% How much higher is the manager's bonus if FIFO is adopted instead of LIFO O $1500 o $250 @ $200 ON $88 Submit Answer seve for late Attempts: 0 of 1 used Question 23 of 25 View Policies Current Attempt in Progress Concord Company's inventory records show the following data: Units Unit Cost Inventory January 1 10000 $9.00 Purchases June 119 9500 9.00 November 8 5700 16100 A physical inventory on December 31 shows 4300 units on hand, Concord sells the units for $13 each. The company has an effective tax rate of 1896. Concord uses the periodic inventory method. Under the LIFO method, cost of goods sold is O $17 1000 $170400) o $40100 @ $169600 Savie for later Attempts: 0 of 1 used Submit Answer Question 25 of 25