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Sunland Company's inventory records show the following data: Units Unit Cost Inventory: January 1 10000 $9.20 Purchases: June 18 8500 9.00 November 8 6400 6.00
Sunland Company's inventory records show the following data: Units Unit Cost Inventory: January 1 10000 $9.20 Purchases: June 18 8500 9.00 November 8 6400 6.00 A physical inventory on December 31 shows 4400 units on hand. Sunland sells the units for $11 each. The company has an effective tax rate of 22%. Sunland uses the periodic inventory method. Under the FIFO method, the December 31 inventory is valued at O $38400 O $26400 O $39600 O $40480
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