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Whispering Winds Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 99 $ 41 Mar. 14, 2022 Purchase 171
Whispering Winds Corp. had the following inventory transactions occur during 2022:
Units | Cost/unit | |||||
---|---|---|---|---|---|---|
Feb. 1, 2022 | Purchase | 99 | $ 41 | |||
Mar. 14, 2022 | Purchase | 171 | $ 43 | |||
May 1, 2022 | Purchase | 121 | $ 45 |
The company sold 282 units at $ 58 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys gross profit using LIFO?
$ 4404
$ 12368
$ 11952
$ 3988
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