Suppose that Pharoah Trading Post has the following inventory data:

The company uses a periodic inventory system. A physical count of merchandise inventory on July $31$ reveals that there are $54$ units on

hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is

$$3748.$

$$3575.$

$$3683.$

$$3651.$Suppose that Sunland Automated Retail Company has the following inventory data:

Nov. $1$ Inventory $34$ units @ $$6\mathrm{.}70$ each

$8$ Purchase $134$ units @ $$7\mathrm{.}20$ each

$17$ Purchase $67$ units @$$7\mathrm{.}05$ each

$25$ Purchase $101$ units @ $$7\mathrm{.}40$ each

The company uses a periodic inventory system. A physical count of merchandise inventory on November $30$ reveals that there are $112$

units on hand. Cost of goods sold under LIFO rounded to the nearest dollar is

$$825.$

$$1587.$

$$1623.$

$$789.$On May $1,$ Sandhill Company had beginning inventory consisting of $360$ units with a unit cost of $$8.$ During May, the company

purchased inventory as follows:

$720$ units at $$8$

$1080$ units at $$9$

The company sold $1800$ units during the month for $$14$ per unit. Sandhill uses the average$-$cost method. Assuming that a periodic

inventory system is used, the cost of Sandhill's inventory at May $31$ is $($Round average cost per unit to $2$ decimal places, e$.$g$.12\mathrm{.}52.)$

$$18360$

$$3240$

$$2880$

$$3060$Current Attempt in Progress

Maria, the manager of Sheridan Company is given a bonus based on net income before taxes. The net income is $$52030$ for FIFO and

$$43000$ for LIFO. The tax rate is $30\%.$ The bonus rate is $20\%.$ How much higher is the manager's bonus if FIFO is adopted instead of

LIFO?

$$2580$

$$12900$

$$9030$

$$18060$