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Lee Industries Had the Following Inventory Transactions Occur During 2011

Question 155

Multiple Choice

Lee Industries had the following inventory transactions occur during 2011: Lee Industries had the following inventory transactions occur during 2011: 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 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

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