Splish Brothers Inc. had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1,...
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Splish Brothers Inc. had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 108 $108 Mar. 14, 2017 Purchase 186 $113 May 1, 2017 Purchase 132 $118 The company sold 306 units at $151 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $3000, what is the companys after-tax income using LIFO? (rounded to whole dollars)
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