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Sunland Company's inventory records show the following data: Units Unit Cost Inventory: January 1 9500 $9.20 Purchases: June 18 8600 8.00 November 8 6100
Sunland Company's inventory records show the following data: Units Unit Cost Inventory: January 1 9500 $9.20 Purchases: June 18 8600 8.00 November 8 6100 6.00 A physical inventory on December 31 shows 3900 units on hand. Sunland sells the units for $12 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 $2496 additional taxes O $2616 tax savings CO $2616 additional taxes O $1956 additional taxes Save for Later
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