Question 21 of 25 View Policies Current Attempt in Progress Sheffield Industries had the following inventory transactions occur during 2020 Units Cost/unit 2/1/20 Purchase 55 $40 3/14/20 Purchase 90 $42 5/1/20 Purchase 66 $46 The company sold 140 units at S60 each and has a tax rate of 40% There is no beginning inventory Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO (rounded to Whole dollars) $1408 $2256 O $1578 $2630 Attempts: 0 of 1 used Submit Answer