Lee Industries Had the Following Inventory Transactions Occur During 2011

Multiple Choice

Lee Industries had the following inventory transactions occur during 2011: $\begin{array}{llll}&&\text { Units }&\text { Cost/unit }\\2 / 1 / 11 & \text { Purchase } & 54 & \$ 45 \\3 / 14 / 11 & \text { Purchase } & 93 & \$ 47 \\5 / 1 / 11 & \text { Purchase } & 66 & \$ 49\end{array}$
The company sold 153 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) $\$ 2,316$
B) $\$ 2,544$
C) $\$ 1,781$
D) $\$ 1,620$