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Lee Industries Had the Following Inventory Transactions Occur During 2010

Question 63

Multiple Choice

Lee Industries had the following inventory transactions occur during 2010: Lee Industries had the following inventory transactions occur during 2010: The company sold 51 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 LIFO? (rounded to whole dollars) A) $772 B) $848 C) $594 D) $540 The company sold 51 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 LIFO? (rounded to whole dollars)


A) $772
B) $848
C) $594
D) $540

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