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Bonita Company's inventory records show the following data: Inventory: January 1 Purchases: June 18 November 8 Units Unit Cost 9800 $9.00 8500 8.00 6000 7.00
Bonita Company's inventory records show the following data: Inventory: January 1 Purchases: June 18 November 8 Units Unit Cost 9800 $9.00 8500 8.00 6000 7.00 A physical inventory on December 31 shows 3700 units on hand. Bonita sells the units for $14 each. The company has an effective tax rate of 20%. Bonita uses the periodic inventory method. Under the LIFO method, cost of goods sold is $168600 $164900. $25900 $146400
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