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Romanoff Industries Had the Following Inventory Transactions Occur During 2015

Question 37

Multiple Choice

Romanoff Industries had the following inventory transactions occur during 2015: Romanoff Industries had the following inventory transactions occur during 2015: The company sold 150 units at $70 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 LIFO? (rounded to whole dollars) A) $2,323 B) $2,486 C) $3,318 D) $3,552 The company sold 150 units at $70 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 LIFO? (rounded to whole dollars)


A) $2,323
B) $2,486
C) $3,318
D) $3,552

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