Cyclone Co. uses the periodic inventory system. The following information about their inventory of Model XX Mountain Bicycles is available: 1/1 Beg Inventory 50 $800 4/12 Purchase 80 $820 7/8 Purchase 75 $840 9/22 Purchase 90 $850 During the year, 235 bicycles were sold at a price of $1500 each. Other operating costs equaled $80,000 and their tax rate is 30%. round the final answer to the nearest dollar What was ending inventory and cost of goods sold on 12/31 under the FIFO cost flow assumption. a 51,000 and 194, 100 b 48,200 and 196, 900 c 49, 851 and 195,249 d None Note... I am confused about the 30% tax rate and the $80,000 additional costs