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Current Attempt in Progress Concord Industries had the following inventory transactions occur during 2018: Units...

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Finance

Current Attempt in Progress Concord Industries had the following inventory transactions occur during 2018: Units Cost/unit 2/1/18 Purchase 50 $40 3/14/18 Purchase 88 $45 5/1/18 Purchase 66 $50 The company sold 200 units at $80 each and has a tax rate of 40%. Assuming that a periodic inventory system is used, what is the companys after-tax income using FIFO? (rounded to whole dollars) $4164 $6670 $6940 $4000

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