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XYZ Corp uses a periodic LIFO inventory system. At the beginning of the year, the company had 2000 units of inventory on hand that had
XYZ Corp uses a periodic LIFO inventory system. At the beginning of the year, the company had 2000 units of inventory on hand that had been purchased for $50 per unit. During the year, XYZ purchased an additional 3000 units of inventory for $60 per unit. The company sold 3600 units during the year. Assuming XYZ pays a 20% tax rate, how much was XYZ's LIFO liquidation profit (after tax)?
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