Question
Pina Colada Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 99 $99 Mar. 14, 2022 Purchase 171 $103
Pina Colada Corp. had the following inventory transactions occur during 2022:
| Units | Cost/unit | |||||
|---|---|---|---|---|---|---|
| Feb. 1, 2022 | Purchase | 99 | $99 | |||
| Mar. 14, 2022 | Purchase | 171 | $103 | |||
| May 1, 2022 | Purchase | 121 | $108 |
The company sold 281 units at $139 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys gross profit using LIFO?
$10457
$28602
$29548
$9511
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Ebay Tips And Tricks To Increase Your Ebay Sales
Authors: Jessica Wilson
1st Edition
1774854015, 978-1774854013
