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Hello please help, I'm trying to solve but don't have enough check my works to keep trying. Problem 3-9 UFO liquidation [LOB-4, 3-6] Taylor Corporation

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Hello please help, I'm trying to solve but don't have enough check my works to keep trying.

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Problem 3-9 UFO liquidation [LOB-4, 3-6] Taylor Corporation has used a periodic inventory system and the LIFO cost method since its inception in once. The company began 201 E with the following inventory layers {listed in chronological order of acquisition}: lascc units a sec szscpcc mass units a $25 4sr.5cc Beginning inventory 553?.500 During 21316. soccc units were purchased for $30 per unit. Due to unexpected demand for the company's product. 2016 sales totaled cacao units at various prices. leaving cacao units in ending inventory. Required: 1. Calculate cost ol goods sold lor2l11. l 2. Detennine the amount of LIFE} liquidation profit that the company must report in a disclosure note to its 2016 nancial statements. Assume an income tax rate of 35%. l 3. If the company decided to purchase an additional s,ccc units at can per unit at the end of the year, how much income tax currently payable would be saved? l

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