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Sunland Company's inventory records show the following data: Units Inventory, January 1 Purchases: June 18 November 8 9900 8900 Unit Cost $8.80 8.00 5.00 6100
Sunland Company's inventory records show the following data: Units Inventory, January 1 Purchases: June 18 November 8 9900 8900 Unit Cost $8.80 8.00 5.00 6100 A physical inventory on December 31 shows 4400 units on hand. Sunland sells the units for $13 each. The company has an effective tax rate of 20%. Sunland uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used? O $3344 additional taxes O $2370 additional taxes O $2576 additional taxes O $2576 tax savings
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