Multiple Choice
Eneri Company's inventory records show the following data: 
A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used?
A) $1,760 additional taxes
B) $992 additional taxes
C) $786 additional taxes
D) $992 tax savings
Correct Answer:
Verified
Correct Answer:
Verified
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