Question
Skysong, Inc. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 89 $37 Mar. 14, 2022 Purchase 153 $39 May
Skysong, Inc. had the following inventory transactions occur during 2022:
| Units | Cost/unit | |||||
|---|---|---|---|---|---|---|
| Feb. 1, 2022 | Purchase | 89 | $37 | |||
| Mar. 14, 2022 | Purchase | 153 | $39 | |||
| May 1, 2022 | Purchase | 108 | $40 |
The company sold 251 units at $52 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys gross profit using LIFO?
$9897
$9620
$3155
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Quality Management Audits In Nuclear Medicine Practices
Authors: International Atomic Energy Agency (IAEA)
1st Edition
9201121083, 978-9201121080
