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 ₤6 each.The company has an effective tax rate of 20%.Holliday uses the periodic inventory method. Under the FIFO method, the December 31 inventory is valued at
A) ₤7,000.
B) ₤7,250.
C) ₤7,500.
D) ₤9,000.
Correct Answer:
Verified
Correct Answer:
Verified
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