Multiple Choice
Holliday Company's inventory records show the following data: 
A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for ₤3 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. Under the LIFO method, cost of goods sold is
A) ₤2,625.
B) ₤4,500.
C) ₤21,000.
D) ₤22,000.
Correct Answer:
Verified
Correct Answer:
Verified
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