Use the following to answer questions 11-14 Ace Industries had the following inventory transactions occur during 2016 2/1/2016 Purchase Units 3/14/2016 Cost/unit Purchase 5/1/2016 Purchase $45 $47 $49 The company sold 51 units at $63 each and has a tax rate of 30%. 11) Assuming that a periodic inventory system is used, what is the company's gross pront using LIFO? (rounded to whole dollars) A) $2,441 B) $2,365 C) $848 D) $772 12. Assuming that a periodic inventory system is used, what is the company's after-tax income using LIFO? (rounded to whole dollars) A) $772 B) $848 C) $594 D) $540 13. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars) A) $2,441 B) $2,365 C) $848 D) $772 14. Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO?(rounded to whole dollars) A) $772 B) $848 C) $594 D) $540