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Lee Industries Had the Following Inventory Transactions Occur During 2014

Question 206

Multiple Choice

Lee Industries had the following inventory transactions occur during 2014: Lee Industries had the following inventory transactions occur during 2014: The company sold 204 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO? (rounded to whole dollars) A) $3,088 B) $3,392 C) $2,374 D) $2,160 The company sold 204 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO? (rounded to whole dollars)


A) $3,088
B) $3,392
C) $2,374
D) $2,160

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