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Issa Industries had the following inventory transactions occur during 2022: Units Cost/unit 2/1/20 Purchase 54 $45 3/14/20 Purchase 93 $47 5/1/20 Purchase 66 $49 The
Issa Industries had the following inventory transactions occur during 2022:
Units Cost/unit
2/1/20 Purchase 54 $45
3/14/20 Purchase 93 $47
5/1/20 Purchase 66 $49
The company sold 150 units at $70 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys after-tax income (rounded to whole dollars) using FIFO?
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