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Dole Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 94.0 $94.0 Mar. 14, 2017 Purchase 161.0 $98.0 May
Dole Industries had the following inventory transactions occur during 2017:
Units | Cost/unit | |||||
Feb. 1, 2017 | Purchase | 94.0 | $94.0 | |||
Mar. 14, 2017 | Purchase | 161.0 | $98.0 | |||
May 1, 2017 | Purchase | 114.0 | $102.0 |
The company sold 265.0 units at $131.0 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $2600.0, what is the companys after-tax income using LIFO? (rounded to whole dollars)
$5732
$3982
$4012
$5689
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